Hindalco’s aluminium wire rod & billets prices grow by INR2000/t w.e.f. Feb. 5 in response to LME price increase
Hindalco Industries Limited increased its aluminium products and aluminium ingot prices on Saturday, February 5, in response to the LME aluminium price growth. With effect from February 5, Hindalco’s aluminium wire rod price witnessed a rise of INR 2,000 per tonne or 0.73 per cent from INR 273,850 per tonne to INR 275,850 per tonne.
Hindalco’s aluminium billets price also grew by INR 2,000 per tonne on Saturday, February 5, to come in at INR 278,850 per tonne. On Wednesday, February 2, the price stood at INR 276,850 per tonne, seeing a cut of INR 2,000 per tonne.
Aluminium ingot price of Hindalco is currently at INR 264,750 per tonne, since February 5, in contrast to INR 262,750 per tonne on February 2.
Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which from February 2 to February 4 gained US$44 per tonne to come in at US$3,087 per tonne. On a month-on-month calculation, the price is up by US$271.50 per tonne or 9.64 per cent from US$2,815.50 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.
Grow with
AL Circle
