Hindalco hikes its aluminium products price by INR 1,500/t with effect from September 29

Hindalco Industries Limited has raised aluminium products price after declining it for the second time in a row. With effect from Tuesday, 29 September 2020, the company’s wire rods price has come in at INR 158,100 per tonne. That is up by INR 1,500 per tonne from INR 156,600 per tonne on September 24.

Aluminium billets price stands at INR 154,100 per tonne as of Tuesday, 29 September 2020, an increase INR 1,500 per tonne from INR 152,600 per tonne on Thursday, 24 September.

Hindalco aluminium ingots price has risen by INR 1,500 per tonne to INR 147,000 per tonne as of Tuesday, 29 September 2020.

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 are down 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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source https://www.alcircle.com/news/hindalco-hikes-its-aluminium-products-price-by-inr-1-500-t-with-effect-from-september-29-59200