
Hindalco Industries Limited has increased its aluminium products prices by again 1 per cent for the second consecutive time, with effect from July 1, 2020. With the latest hike, the company’s aluminium ingot price has come in at INR 139,750 per tonne compared to INR 138,000 per tonne on June 27, indicating a hike of INR 1,750 per tonne or 1.27 per cent over the week.

Hindalco’s aluminium wire rod price and billet price, on the other hand, are respectively standing at INR 150,850 per tonne and INR 146,850 per tonne, marking growth of INR 1,750 per tonne or 1.17 per cent and 1.21 per cent from INR 149,100 per tonne and INR 145,100 per tonne on June 27.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on the London Metal Exchange. The three-month futures of aluminium between June 25 and July 1 rallied from US$ 1543.50 per tonne to US$ 1593.5 per tonne, and with that, the decline in the three-month aluminium future prices have come down to 9.62 per cent so far in 2020, which in the earlier week was by more than 14 per cent.
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.
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