Hindalco’s aluminium wire rod price amounts to INR260,100/t; sees a rise of INR3500/t on September 30

After two consecutive declines on September 25 and 28, Hindalco Industries Limited has increased its aluminium products and aluminium ingot prices with effect from Thursday, September 30. Hindalco’s aluminium wire rod price has come in at INR 260,100 per tonne, up by INR 3,500 per tonne from INR 256,600 per tonne.

Hindalco’s aluminium billets price has also seen an increase of INR 3,500 per tonne on September 30 to stand at INR 256,100 per tonne. On September 28, the price stood at INR 252,600 per tonne after declining by INR 1,500 per tonne from the previous day.

Aluminium ingot price has also been grown by INR 3,500 per tonne from INR 245,500 per tonne to INR 249,000 per tonne

Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which decreased to US$2,899 per tonne on September 28 from US$ 2,905.50 per tonne on September 24. On September 29, the price increased by US$ 14 per tonne to US$ 2,913 per tonne. On a year-on-year calculation, the price stood higher by US$1,167 per tonne than US$ 1,746 per tonne.

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.