Hindalco Industries Limited lifted its aluminium products prices on Saturday, November 5, after trimming it on Thursday, November 3, by INR 1,500 per tonne. With effect from November 5, Hindalco’s aluminium wire rod price stands at INR 229,100 per tonne, up by INR 6,250 per tonne or 2.80 per cent from INR 222,850 per tonne on November 3.
Hindalco’s aluminium billets price was also raised by INR 6,250 per tonne on Saturday to be sold at INR 232,100 per tonne versus INR 225,850 per tonne on November 3. The company’s aluminium ingot price was no exception but also saw a hike o INR 6,250 per tonne on November 5 from INR 211,750 per tonne to INR 218,000 per tonne.
Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange. The LME aluminium benchmark price augmented US$90 per tonne or 4.06 per cent on Friday, November 4 to end the week at US$2,306 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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