Hindalco Industries lifts aluminium wire rod price by INR3250/t with effect from December 22
Hindalco Industries Limited has lifted its aluminium products prices by INR 3,250 per tonne, with effect from Thursday, December 22, following back-to-back cuts over a week. With the latest hike, Hindalco’s aluminium wire rod price has come in at INR 235,850 per tonne versus INR 232,600 per tonne on December 20.
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Hindalco’s aluminium billets price has pegged at INR 238,850 per tonne as of December 22, compared to INR 235,600 per tonne on December 20. The company’s aluminium ingot price is no exception but seen a hike of INR 3,250 per tonne or 6.48 per cent, with effect from December 22, to settle at INR 224,750 per tonne.
Hindalco has raised its aluminium ingot and aluminium products prices in line with an elevation of the LME aluminium benchmark price by US$27.50 per tonne from US$2,329.50 per tonne on December 20 to US$2,357 per tonne on December 21.
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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