Hindalco elevates its aluminium wire rod price by 4% with effect from Nov. 12 after three successive cuts

After three successive cuts on November 8, 10 and 11, Hindalco Industries Limited elevated its aluminium products and aluminium ingot prices, with effect from Saturday, November 12. The company lifted its aluminium wire rod price by INR 9,250 per tonne or 4.07 per cent to sell the item at INR 233,350 per tonne, following three back-to-back cuts from INR 229,100 per tonne to INR 224,100 per tonne during November 5-11.

Hindalco’s aluminium billets price was also built up by INR 9,250 per tonne on November 12 to INR 236,350 per tonne. On November 11, the price stood at INR 227,100 per tonne, down by INR 5,000 per tonne from INR 232,100 per tonne on November 11.

Aluminium ingot price was no exception but saw a hike of INR 9,250 per tonne as well from INR 213,000 per tonne on November 11 to INR 222,250 per tonne on November 12.

Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which jumped by US$138 per tonne or 6.07 per cent on November 11 to stand at INR 2,410 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.