Hindalco’s aluminium wire rod & billets prices see a hike for the third consecutive time by INR3000/t on January 20
Hindalco Industries Limited has continued to increase its aluminium ingot and aluminium products prices for the third time in a row, with effect from Thursday, January 20. Hindalco has raised its aluminium wire rod price by INR 3,000 per tonne from INR 268,100 per tonne on January 18 to INR 271,100 per tonne on January 20.
The company’s aluminium billets price has also witnessed a hike of INR 3,000 per tonne to stand at INR 274,100 per tonne as of January 20. On January 18, the price stood at INR 271,100 per tonne, seeing an increase of INR 3,250 per tonne.
With the latest increase, Hindalco's aluminium ingot price has come in at INR 260,000 per tonne, compared to INR 257,000 per tonne on January 18.
Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which from January 17 to 19 grew by US$27 per tonne to stand at US$3,036 per tonne. That brought the price to a month-on-month hike of US$390.50 per tonne from US$2,645.50 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.
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