Hindalco Industries’ aluminium billets price hikes by INR 2,000/t to INR 193,100/t
Hindalco Industries Limited has hikes its aluminium products price for the second time in a row. With effect from Thursday, 04 March 2021, aluminium billets price stands at INR 193,100 per tonne, marking a growth of INR 2,000 per tonne from INR 191,100 per tonne on March 3.
The company’s aluminium ingot and wire rods prices are currently hovering at INR 186,000 per tonne and INR 197,100 per tonne as of Thursday, 04 March 2021, an increase of 1 per cent each from INR 184,000 per tonne and INR 195,100 per tonne on March 3.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price on LME has been increasing since October. The price has climbed nearly 14% in the October-December.
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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