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18 OCTOBER 2021 AL CIRCLE

Hindalco’s aluminium wire rod price soars by INR5750/t to be sold at INR285,600/t w.e.f. October 18

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Hindalco Industries Limited has sharply increased its aluminium products prices with effect from Friday, October 15. The company’s aluminium wire rod price has seen a surge of INR 5,750 per tonne to come in at INR 285,600 per tonne. On October 14, the price stood at INR 279,850 per tonne, up by INR 2,250 per tonne from INR 277,600 per tonne.

Hindalco’s aluminium wire rod price soars by INR5750/t to be sold at INR285,600/t w.e.f. October 18

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Hindalco’s aluminium billets price has also witnessed a hike of INR 5,750 per tonne from INR 279,350 per tonne to INR 285,100 per tonne, with effect from October 15.

Hindalco Industries’ aluminium ingot price has mounted to INR 274,500 per tonne in comparison with INR 268,750 per tonne on the previous day.

Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which again crossed US$3,000 per tonne last week. During October 11-15, the LME aluminium benchmark price jumped from INR 3,020 per tonne to INR 3,163 per tonne. Hence, on a month-on-month calculation, the price stood up by US$295 per tonne from US$2,868 per tonne, and on a year-on-year basis, it was higher by US$1,339 per tonne than US$1,824 per tonne.

Outlook for the Indian Aluminium Industry

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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