Hindalco’s aluminium wire rod price surges by 7% with effect from September 30
Hindalco Industries’ aluminium products and aluminium ingot prices built up sharply by INR 14,750 per tonne or 7.07 per cent on Friday, September 30. That brought the company’s aluminium wire rod price to INR 223,350 per tonne versus INR 208,600 per tonne on September 28.
Hindalco’s aluminium billets price came in at INR 226,350 per tonne as of September 30 compared to INR 211,600 per tonne on September 28. Aluminium ingot price also saw an increase of INR 14,750 per tonne to stand at INR 212,250 per tonne, effective from Friday.
Hindalco Industries links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which skyrocketed by US$181 per tonne on September 29 from US$2,080 per tonne to US$2,261 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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