Hindalco Industries Limited has extended the growth of its aluminium product prices with effect from Tuesday, November 3. The price of Hindalco’s aluminium wire rods has been raised by INR 1,750 per tonne from INR 166,350 per tonne to INR 168,100 per tonne, as of November 3.
With the latest hike, the company’s aluminium billets price has come in at INR 164,100 per tonne, registering a hike of INR 1,750 per tonne as well from INR 162,350 per tonne.
Hindalco’s aluminium ingot price has also been grown by INR 1,750 per tonne from INR 155,250 per tonne to INR 157,000 per tonne, as of November 3.
Hindalco generally links its aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which in the last two days rose from US$ 1786 per tonne to US$ 1834.50 per tonne. With this hike, the LME aluminium price grows by US$ 62.50 per tonne or 3.53 per cent over the year so far.
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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