Hindalco’s aluminium wire rod & billets prices accumulate INR1250/t over a week
Hindalco Industries Limited has further increased its aluminium products prices, with effect from Friday, October 30, although at a lower rate than the previous day. With the latest rise, Hindalco’s aluminium wire rod price has come in at INR 237,100 per tonne, down by INR 1,250 per tonne from INR 235,850 per tonne on December 22.
Hindalco’s aluminium billets price has also seen a rise of INR 1,250 per tonne on December 30 to stand at INR 240,100 per tonne versus INR 238,850 per tonne on December 22. Aluminium ingot price has also been grown by INR 1,250 per tonne, reaching at INR 226,000 per tonne.
Hindalco has increased its aluminium ingot and aluminium products prices in line with a rise of the LME aluminium benchmark price by US$14.50 per tonne through the week from US$2,357 per tonne on December 21 to US$2,371.50 per tonne on December 29.
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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