Hindalco Industries Ltd has raised its aluminium products price for the second time in a row. With effect from Thursday July 30, Hindalco aluminium ingots price now stands at INR 145,250 per tonne, an increase of 1.4% or INR 2,000 per tonne from INR 143,250 per tonne on July 24.
The company is now selling its wire rods and billets at INR 156,350 per tonne and INR 152,350 per tonne with effect from Thursday, 30 July 2020, marking a growth of INR 2,000 per tonne each from July 24.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium declined so far in 2020 due to slower global demand following the coronavirus outbreak but have come off their recent lows.
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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