Hindalco Industries reports INR 2,000/t hike in aluminium products price
Hindalco Industries Limited has raised its aluminium products price today. With effect from Thursday, 18 February 2021, wire rods price stands at INR 187,350 per tonne, an increase of INR 2,000 per tonne from INR 185,350 per tonne on February 11.
The company is selling its aluminium billets at INR 183,350 per tonne as of Thursday, 18 February 2021. This is up from INR 181,350 per tonne on February 11. Aluminium ingot price is currently hovering at INR 176,250 per tonne, representing a hike of INR 2,000 per tonne from February 11.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price on LME has been increasing since October. The price has climbed nearly 14% in the October-December.
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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