Hindalco further expands its aluminium prices by INR1750/t in line with global aluminium price hike on LME over the weekend

Hindalco has further increased its aluminium product and aluminium ingot prices with effect from Tuesday, October 13, in line with the incessant surge in global aluminium benchmark price on the London Metal Exchange. This marks the fifth consecutive hike in Hindalco’s aluminium prices.

With effect from October 13, Hindalco’s aluminium wire rod price has come in at INR 165,350 per tonne, up by INR 1,750 per tonne from INR 163,600 per tonne. The increase in Hindalco’s aluminium wire rod price has expanded by INR 250 per tonne compared to the hike by INR 1500 per tonne on October 10.

The company’s aluminium billet price is now at INR 161,350 per tonne after being surged by INR 1,750 per tonne from INR 159,600 per tonne. The price of Hindalco's aluminium ingot is hovering at INR 154,250 per tonne, also higher by INR 1,750 per tonne from INR 152,500 per tonne.

The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on the London Metal Exchange, which has surged over the weekend by US$ 24 per tonne to stand at US$ 1829.50 per tonne. So far, over the year, the global aluminium benchmark price on the LME is standing higher by US$ 57.50 per tonne, as of October 12, 2020.

Aluminium operations of Hindalco, excluding those of its US arm Novelis Inc, generally account for nearly half of its total sales and 70% of its operating profit.