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08 MARCH 2022 AL CIRCLE

Hindalco’s aluminium wire rod & billets prices witness a rise of INR14750/t as LME price nears US$4000/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Hindalco Industries Limited has continued to hike its aluminium products and aluminium ingot prices, with effect from Tuesday, March 8, in line with the rally of LME aluminium price close to US$4,000 per tonne. Aluminium wire rod selling price of the company has seen a raise of INR 14,750 per tonne from INR 343,600 per tonne on March 5 to INR 358,350 per tonne on March 8, 2022.

Hindalco’s aluminium wire rod & billets prices witness a rise of INR14750/t as LME price nears US$4000/t

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Hindalco’s aluminium billets price has also seen an increase of INR 14,750 per tonne on March 8 to come in at INR 361,350 per tonne. On Saturday, March 5, aluminium billets price was at INR 346,600 per tonne, after being lifted by INR 11,750 from the previous day.

The company has hiked its aluminium ingot price to INR 347,250 per tonne as of March 8 versus INR 332,500 per tonne on March 5.

Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which jumped by US$133.50 per tonne on March 7 to stand at US$3,984.50 per tonne. On a month-on-month calculation, the price stood up by US$739.50 per tonne or 22.79 per cent from US$3,245 per tonne.

AlCircle Global Aluminium Industry Outlook 2022

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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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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