Hindalco Industries further grows its aluminium wire rod and billets prices by INR1750/t on June 9

Hindalco Industries Limited has further increased its aluminium products and aluminium ingot prices by INR 1,750 per tonne, with effect from Wednesday, June 9. The company’s aluminium wire rod price has thus come in at INR 217,600 per tonne as against INR 215,850 per tonne on June 5.

Hindalco is selling its aluminium billets at INR 213,600 per tonne compared to INR 211,850 per tonne on the previous day. Aluminium ingot price is standing at INR 206,500 per tonne as of June 9, also up by INR 1,750 per tonne from INR 204,750 per tonne on June 5.

Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which after June 4, climbed 0.21 per cent to stand at US$ 2,417.50 per tonne on June 7 and further expanded by 0.89 per cent to settle at US$ 2,439 per tonne on June 8. On a month-on-month calculation, the price stood down by US$ 79.50 per tonne but up by US$ 869.50 per tonne on the year.

Aluminium operations of Hindalco, excluding those of its US arm Novelis Inc, generally account for nearly half of its total sales and 70% of its operating profit.