Hindalco Industries Limited further expanded its aluminium products and aluminium ingot prices with effect from Tuesday, March 23. With the latest hike, Hindalco’s aluminium wire rod price is standing above INR 200,000 per tonne. It was increased by INR 3,750 per tonne on March 23 to INR 200,350 per tonne compared to the increase of INR 2,250 per tonne to INR 196,600 per tonne on March 18.
Hindalco’s aluminium billets price also edged INR 3,750 per tonne higher with effect from March 23 to come in at INR 196,350 per tonne. On March 18, the price stood at INR 192,600 per tonne, growing by INR 2,250 per tonne from INR 190,350 per tonne on Wednesday, March 17.
Hindalco’s aluminium ingot price clocked at INR 189,250 per tonne compared to INR 185,500 per tonne last week.
Hindalco generally links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which since March 18 increased to US$ 2205 per tonne as of March 23. Currently, over the month, LME aluminium price is up by US$ 68.60 per tonne from US$ 2136.50 per tonne and on a year-on-year basis, it is higher by US$ 669 per tonne or 43.55 per cent.
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.
Responses
