Hindalco grows its aluminium billets and wire rod prices by INR1750/t with effect from December 25

Hindalco Industries Limited grew its aluminium billets and aluminium wire rod prices by INR 1,750 per tonne with effect from Saturday, December 25. The hike brought the company’s aluminium wire rod price to INR 260,350 per tonne as against INR 258,600 per tonne on December 23.

Hindalco’s aluminium wire rod price stood at INR 263,350 per tonne as of December 25 in comparison with INR 261,600 per tonne on December 23.

Hindalco’s aluminium ingot price also saw an increase of INR 1,750 per tonne on December 25 from INR 247,500 per tonne to INR 249,250 per tonne.

Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which after December 22 grew by US$37 per tonne to settle at US$2,848 per tonne as of December 24. On a month-on-month basis, the price stood up by US$149 per tonne or 5.5 per cent from US$2,699 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.

source https://www.alcircle.com/news/hindalco-grows-its-aluminium-billets-and-wire-rod-prices-by-inr1750-t-with-effect-from-december-25-74231