Hindalco continues to increase its aluminium prices in line with LME price rally; ingot price sums at INR234,500/t

Hindalco Industries Limited back-to-back hiked its aluminium ingot and aluminium products prices on January 14. Previously, on January 12, Hindalco lifted its aluminium ingot price by INR 3,250 per tonne from INR 226,750 per tonne to INR 230,000 per tonne. On Saturday, January 14, the price was further raised by INR 4,500 per tonne to INR 234,500 per tonne.

Hindalco’s aluminium wire rod price also saw an increase of INR 4,500 per tonne on January 14 to INR 245,600 per tonne, following a lift of INR 3,250 per tonne from INR 237,850 per tonne INR 241,100 per tonne. Aluminium billets price also witnessed a hike of INR 4,500 per tonne on January 14 to stand at INR 248,600 per tonne after a rise of INR 3,250 per tonne on January 12 from INR 240,850 per tonne to INR 244,100 per tonne.

Hindalco incessantly increased its aluminium ingot and aluminium products prices in response to the LME aluminium benchmark price rally. During January 9-13, 2023, the three-month futures of aluminium on the London Metal Exchange surged by US$174.50 per tonne from US$2,336.50 per tonne to US$2,511 per tonne. Hindalco’s latest price rise was in line with LME price growth by US$64 per tonne on January 13.

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.