Hindalco Industries’ aluminium products price rises by INR 1750/t
Hindalco Industries Limited has hiked its aluminium products price by INR 1750 per tonne. With effect from Thursday, 11 February 2021, wire rods price stands at INR 185,350 per tonne, an increase of 0.95%from INR 183,600 per tonne on February 10.
The company is selling its aluminium billets and aluminium ingot at INR 181,350 per tonne and INR 174,250 per tonne as of Thursday, 11 February 2021, representing a hike of INR 1750 per tonne each from February 10.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price on LME has been increasing since October. The price has climbed nearly 14% in the October-December.
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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