Hindalco’s aluminium wire rod and billets prices grow by INR2250/t following an intermittent cut

Hindalco Industries Limited has increased its aluminium ingot and aluminium products prices following an intermittent cut on Saturday, March 26. With effect from Tuesday, March 29, Hindalco has grown its aluminium wire rod price by INR 2,250 per tonne to INR 324,100 per tonne. Until then, with effect from March 26, the price stood at INR 321,850 per tonne, down by INR 7,250 per tonne from INR 329,100 per tonne.

With the latest price revision, Hindalco’s aluminium billets price has come in at INR 327,100 per tonne, up by INR 2,250 per tonne from INR 324,850 per tonne on March 26. Aluminium ingot price has also experienced a raise of INR 2,250 per tonne to INR 313,000 per tonne from INR 310,750per tonne on the previous day. On March 26, the price saw a slash of INR 7,250 per tonne from INR 318,000 per tonne.

Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which grew by US$23 per tonne on March 28 to stand at US$3,606 per tonne. In response to this rise, Hindalco has raised its aluminium prices with effect from March 29.

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.