Hindalco Industries grows its aluminium wire rod price for the second day in a row by INR5000/t w.e.f. December 18
Hindalco Industries Limited increased its aluminium products and aluminium ingot prices back-to-back on Saturday, December 18. The company grew its aluminium wire rod price by INR 5,000 per tonne or 2.03 per cent from INR 245,850 per tonne on December 17 to INR 250,850 per tonne.
Hindalco’s aluminium billets price also saw a hike of INR 5,000 per tonne from INR 248,850 per tonne to INR 253,850 per tonne as of December 18. Seeing a raise of INR 5,000 per tonne as well on December 18, Hindalco’s aluminium ingot price came in at INR 239,750 per tonne, compared to INR 234,750 per tonne on December 17.
Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which further jumped by US$64 per tonne on December 17 to US$2,694 per tonne. The price is thus up by nearly US$33 per tonne or 1.24 per cent month-on-month from US$2,661 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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Next articleIndian scientists make headway for an eco-friendly process to enhance the anti-corrosiveness of high-strength aerospace aluminium alloys
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