Hindalco expands its aluminium ingot price by INR2000/t with effect from November 16

Hindalco Industries Limited has extended its aluminium ingot and aluminium products price hike, with effect from Wednesday, November 16, although at a lower rate than November 12. Hindalco has expanded its aluminium ingot price by INR 2,000 per tonne from INR 222,250 per tonne on November 12 to INR 224,250 per tonne on November 16.

Hindalco’s aluminium wire rod price has also been raised by INR 2,000 per tonne from INR 233,350 per tonne on November 12 to INR 235,350 per tonne on November 16. Aluminium billets price has also seen an increase of INR 2,000 per tonne to stand at INR 238,350 per tonne as of November 16 versus INR 236,350 per tonne on November 12.

Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which dropped by US$18 per tonne on November 14 to US$2,392 per tonne but rebounded the next day to US$2,410 per tonne on November 15.

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.