Hindalco expands its aluminium ingot price by INR4250/t in response to LME price rally over the weekend

Hindalco Industries Limited has increased its aluminium ingot and aluminium products prices, with effect from Tuesday, July 19, following a cut last week, July 15. Hindalco’s aluminium ingot price has witnessed a hike of INR 4,250 per tonne to stand at INR 221,500 per tonne. On July 15, the price stood at INR 217,250 per tonne, seeing a cut of INR 2,000 per tonne from the previous day.

Hindalco’s aluminium wire rod price has also been expanded by INR 4,250 per tonne or 1.86 per cent on July 19 to INR 232,600 per tonne. Last week, on July 15, the price hovered around INR 228,350 per tonne, down by INR 2,000 per tonne from INR 230,350 per tonne.

Aluminium billets price has come in at INR 235,600 per tonne, up by INR 4,250 per tonne from INR 231,350 per tonne on July 15.

Hindalco Industries links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which surged by US$57 per tonne over the weekend to rest at US$2,377.50 per tonne as of July 18.

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.