Hindalco raises its aluminium wire rod and billets prices by INR1250/t after an intermittent cut
Hindalco Industries Limited increased the prices of its aluminium products and aluminium ingot on Friday, December 25, following an intermittent cut on Thursday, December 24. Hindalco raised its aluminium wire rod price by INR 1,250 per tonne from INR 180,850 per tonne to INR 182,100 per tonne.
Hindalco’s aluminium billets price came in at INR 178,100 per tonne on December 25, up by INR 1,250 per tonne from INR 176,850 per tonne on December 24.
Hindalco’s aluminium ingot price was also increased by INR 1,250 per tonne from INR 167,750 per tonne on December 24 to INR 171,100 per tonne on December 25.
Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which is currently up by US$ 250 per tonne or 14.11 per cent from the beginning of 2020.
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Aluminium operations of Hindalco Industries Limited, 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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