Hindalco’s aluminium wire rod price records the first growth this week to INR253600/t
Hindalco Industries Limited increased its aluminium products prices by INR 2,000 per tonne, with effect from January 25. That brought the company’s aluminium wire rod price to INR 253,600 per tonne versus INR 251,600 per tonne on January 21.
Hindalco’s aluminium billets price came in at INR 256,600 per tonne as of January 25, compared to INR 254,600 per tonne in the previous week. Aluminium ingot price also saw a rise of INR 2,000 per tonnes on Wednesday, January 25, to reach INR 242,500 per tonne from INR 240,500 per tonne on January 21.
Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which grew by US$20.50 per tonne during January 20-25 to stand at US$2,606 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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