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13 NOVEMBER 2020 AL CIRCLE

Hindalco expands its aluminium ingot price by INR2000/t after more than a week

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Hindalco Industries Limited has increased the prices of its aluminium ingot and aluminium products after more than a week, with effect from Friday, November 13. The company's aluminium ingot price is now standing at INR 163,750 per tonne, registering a hike of INR 2,000 per tonne or 1.24 per cent from INR 161,750 per tonne last week, November 4. The marks an increase for the fourth time in a row, however, lower than the previous week compared with INR 4,750 per tonne.

Hindalco expands its aluminium ingot price by INR2000/t after more than a week

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Hindalco has raised its aluminium wire rod price by INR 2,000 per tonne as well from INR 172,850 per tonne on November 4 to INR 174,850 per tonne on November 13.

With the latest hike, the company’s aluminium billets price pegged at INR 170,850 per tonne versus INR 168,850 per tonne last week.

Hindalco links the prices of its aluminium ingot and aluminium products to the three-month futures of aluminium on the London Metal Exchange, which since November 4 has grown by US$ 27.5 per tonne or 1.47 per cent to stand at US$ 1904.50 per tonne, as of November 12. LME aluminium three-month futures price is thus currently up by US$ 132.50 per tonne or 7.48 per cent since the beginning of 2020.

Global Bauxite Industry Insights

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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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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