Hindalco's aluminium billets and aluminium wire rod prices build-up INR3250/t on May 7

Hindalco Industries Limited has continued to increase its aluminium products and aluminium ingot prices with effect from May 7. Hindalco’s aluminium billets price this week has witnessed a hike of INR 3,250 per tonne or 1.51 per cent to INR 218,600 per tonne, in comparison with INR 215,350 per tonne on April 30.

Hindalco’s aluminium wire rod price has come in at INR 222,600 per tonne, also up by INR 3,250 per tonne from INR 219,350 per tonne last week. The company’s aluminium ingot price is standing at INR 211,500 per tonne compared to INR 208,250 per tonne on April 30.

Hindalco links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which grew this week to stand at US$ 2,476.50 per tonne as of May 6. On a month-on-month calculation, the three-month futures of aluminium on LME are currently up by US$ 229.50 per tonne or 10.21 per cent, while on year increased by US$ 1,033.50 per tonne or 71.62 per cent.

Aluminium operations of Hindalco, excluding those of its US arm Novelis Inc, generally account for nearly half of its total sales and 70% of its operating profit.