Hindalco Industries Limited has continued to increase its aluminium products prices, in line with the continuous rise in LME aluminium benchmark price. With effect from Tuesday, October 19, Hindalco’s aluminium billets price stood at INR 287,600 per tonne, up by INR 2,500 per tonne from INR 285,100 per tonne on October 15.
Hindalco’s aluminium wire rod price has also witnessed a hike of INR 2,500 per tonne on October 19 to stand at INR 288,100 per tonne.
The latest increase in Hindalco’s aluminium prices has brought the company’s aluminium ingot price to INR 277,000 per tonne, compared to INR 274,500 per tonne on October 15.
Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which continued to rise on October 18 to stand at US$3,180 per tonne. On a month-on-month calculation, the price stood up by around US$265 per tonne from US$2,915 per tonne, and on a year-on-year basis, it was higher by about US$1,332 per tonne than US$1,848 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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