Hindalco elevates its aluminium ingot price by INR3250/t w.e.f. April 7 after four successive cuts

After four successive cuts, Hindalco Industries Limited has increased its aluminium ingot and aluminium products prices, with effect from Thursday, April 7. The company has added on INR 3,250 per tonne to its aluminium ingot price to sell it at INR 297,000 per tonne. On April 6, the price stood at INR 293,750 per tonne, seeing a downfall of INR 3,000 per tonne or 1.01 per cent from the previous day.

With effect from April 7, Hindalco Industries’ aluminium wire rod price has also been grown by INR 3,250 per tonne to INR 308,100 per tonne. On the previous day, it saw a cut of INR 3,000 per tonne to stand at INR 304,850 per tonne.

With the latest rise on April 7, Hindalco’s aluminium billets price came in at INR 311,100 per tonne as against INR 307,850 per tonne on April 6.

Hindalco has increased its aluminium prices as the LME aluminium benchmark price saw a rise of US$28.50 per tonne on April 6 to score at US$3,443.50 per tonne.

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.