
Hindalco Industries Limited continued to escalate its aluminium ingot and aluminium products prices for the third day in a row, Friday, December 2. On Thursday, December 1, the company increased its aluminium ingot price by INR 3,500 per tonne to INR 224,000 per tonne, which further got raised by INR 2,750 per tonne or 1.23 per cent to INR 226,750 per tonne on December 2.
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Hindalco’s aluminium wire rod price was also elevated by INR 3,500 per tonne on December 1 to INR 235,100 per tonne, and further by INR 2,750 per tonne on December 2 to INR 237,850 per tonne. Hindalco’s aluminium billets price stood at INR 240,850 per tonne as of December 2, also up by INR 2,750 per tonne from the previous day. On December 1, the price was at INR 240,850 per tonne after gaining INR 3,500 per tonne from November 30.
Hindalco back-to-back increased its aluminium ingot and aluminium products prices in line with the rally in the three-month futures of aluminium on the London Metal Exchange by US$107 per tonne or per cent from US$2,387 per tonne on November 29 to INR 2,448.50 per tonne on December 2.
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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