Hindalco increases its aluminium wire rod & billets prices for the second day in a row w.e.f. April 8; Prices up by INR1500/t
Hindalco Industries Limited has increased its aluminium products and aluminium ingot prices for the second day in a row on Thursday, April 8. Hindalco has expanded its aluminium wire rod price by INR 1,500 per tonne with effect from April 8 compared to the hike of INR 2,750 per tonne on April 7. So, as of April 8, Hindalco's aluminium wire rod price is standing at INR 203,600 per tonne versus INR 202,100 per tonne on the previous day.
Hindalco’s aluminium billets price has come in at INR 199,600 per tonne, also up by INR 1,500 per tonne from INR 198,100 per tonne on April 7.
Hindalco’s aluminium ingot price has also seen a hike of INR 1,500 per tonne from INR 191,000 per tonne on April 7 to INR 192,500 per tonne on April 8.
Hindalco generally links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which during April 1-7 increased from US$ 2212.50 per tonne to US$ 2239.50 per tonne. Currently, on a year-on-year basis, the price is higher by US$ 784 per tonne or 53.86 per cent from US$ 1455.50 per tonne.
Aluminium operations of the company, excluding those of its US arm Novelis Inc, generally account for nearly half of its total sales and 70% of its operating profit.
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Next articleChina’s aluminium billet stocks decline 12,800 tonnes to 181,000 tonnes on April 8
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