Hindalco increases its aluminium prices by over 1 per cent after two consecutive cuts

After two consecutive cuts, Hindalco Industries Limited has reportedly increased the prices of aluminium ingots, billets and wire rods, with effect from Friday, December 20.

From INR 141,500 per tonne, the company's aluminium ingots price has been increased by 1.23 per cent to INR 143,250 per tonne. The prices of aluminium billets and wire rods, on the other hand, have been grown by 1.18 per cent and 1.15 per cent to INR 149,850 per tonne and INR 153,850 per tonne, respectively. As of December 11, the company’s aluminium billets price was INR 148,100 per tonne, while that of wire rods INR 152,100 per tonne. So, the prices of each product have grown by over 1 per cent on December 20.

Hindalco generally links the prices of its products with those in international markets. The three-month futures of aluminium are up nearly 4% on the London Metal Exchange so far in the current quarter.  In August and September, the aluminium prices had recorded a fall on LME.

Hindalco Industries' aluminium operations, excluding those of US-based subsidiary Novelis Inc, generally account for nearly half of its sales and 70% of its operating profit.

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