Hindalco increased prices of primary metal products by Rs3,500/mt ($48.73/mt) on Tuesday, after LME spot prices rose by $33/mt at $1,791/mt Monday, from the Friday prior.
Hindalco raised prices of P1020 to Rs147,750/mt, up by Rs3,500/mt from its last price revision on Jan 4. The price of EC wire rods were hiked to Rs153,850 -154,600/mt Tuesday from Rs150,350 -151,100 on Jan 4. The prices of billet were raised to Rs153,850/mt from Rs150,350/mt.
On Jan 4, Hindalco had reduced prices of primary metal products by Rs1,500/mt in tune with a $18/mt drop in LME spot prices on Dec 25.
($1=Rs71.82)