Hindalco Industries Limited has raised its aluminium products price by INR 2,250 per tonne on Saturday. With effect from 09 January 2021, wire rods price stands at INR 183,350 per tonne, an increase of 1.24% from INR 181,100 tonne on January 8.
Aluminium billets price has hiked to stand at INR 179,350 per tonne on January 9. This is up INR 2,250 per tonne from INR 177,100 per tonne on January 8. Hindalco is now selling its aluminium ingots price at INR 172,250 per tonne.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price on LME has been increasing since October. The price has climbed nearly 14% in the October-December.
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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.
source https://www.alcircle.com/news/hindalco-industries-aluminium-products-price-grows-by-inr-2-250-t-62219
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