Hindalco Industries Limited has further expanded its aluminium wire rod and billets prices on Wednesday, August 25, marking the second day of hike in a row. The company is currently selling its aluminium wire rod at INR 238,850 per tonne, up by INR 2,750 per tonne or 1.16 per cent from INR 236,100 per tonne on August 24.
The latest hike has brought Hindalco’s aluminium billets selling price to INR 234,850 per tonne, up by INR 2,750 per tonne from INR 232,100 per tonne.
Hindalco’s aluminium ingot price has also been raised by INR 2,750 per tonne from INR 225,000 per tonne on August 24 to INR 227,750 per tonne on August 25.
Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which on August 24 continued to grow to stand at US$ 2,648.50 per tonne. On a month-on-month calculation, the price is up by around US$ 156.50 per tonne from 2,492 per tonne, and on a year-on-year basis by US$ 913 per tonne from US$ 1,735.50 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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