Hindalco Industries Limited increased its aluminium products prices by INR 4,500 per tonne or 2 per cent with effect from Saturday, June 26. Hindalco’s aluminium wire rod price came in at INR 221,100 per tonne on June 26 compared to INR 216,600 per tonne on June 24.
The company’s aluminium billets price grew from INR 212,600 per tonne on June 24 to INR 217,100 per tonne on June 26.
Hindalco’s aluminium ingot price also saw an increase of INR 4,500 per tonne from INR 205,500 per tonne to INR 210,000 per tonne as of June 26.
Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which after June 22 increased by US$ 41 per tonne to stand at US$ 2,904 per tonne as of June 25. On a month-on-month basis, the price stood up by around US$ 46 per tonne from 2,858 per tonne and on year by about US$ 954 per tonne from US$ 1,950 per tonne.
Aluminium operations of Hindalco, 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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