Hindalco Industries’ aluminium products price climbs by INR 7,250/t
Hindalco Industries Limited has raised its aluminium products price by INR 7,250 per tonne. With effect from Friday, 26 February 2021, wire rods price stands at INR 196,600 per tonne. This is an increase of 3.83 per cent from INR 189,350 per tonne on February 24.
The company is selling its aluminium billets and aluminium ingot price at INR 192,600 per tonne and INR 185,500 per tonne as of Friday, 26 February 2021, marking a hike of INR 7,250 per tonne each from INR 185,350 per tonne and INR 178,250 per tonne on February 24.
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.
NALCO again raises its aluminium wire rod and billets prices by INR5400/t on February 26
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