Hindalco Industries Limited has continued to increase its aluminium products and aluminium ingot prices as the global aluminium benchmark price on the London Metal Exchange rallies back-to-back. With effect from Wednesday, May 18, Hindalco’s aluminium wire rod price has experienced a sharp rise of INR 10,500 per tonne or 4.12 per cent to INR 265,100 per tonne. On Saturday, May 14, the price saw an increase of INR 2,250 per tonne to INR 254,600 per tonne.
Hindalco’s aluminium billets price has also been raised by INR 10,500 per tonne, with effect from May 18, from INR 257,600 per tonne to INR 268,100 per tonne. Aluminium ingot price is no exception but also been raised by INR 10,500 per tonne to INR 254,000 per tonne.
From May 13 to 17, the LME aluminium benchmark price hiked by US$113 per tonne to settle at US$2,836 per tonne. However, on a month-on-month basis, the price still stood down by US$476 per tonne from US$3,312 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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