Hindalco expands its aluminium ingot price for three days in a row by INR2250/t on May 14
Hindalco Industries Limited raised its aluminium ingot and aluminium products prices for the third day in a row, with effect from Saturday, May 14. As per the revised prices, the company’s aluminium ingot price saw a rise of INR 2,250 per tonne or 1 per cent to INR 243,500 per tonne. On Friday, May 13, the price stood at INR 241,250 per tonne, seeing an increase of INR 1,500 per tonne from the previous day.
Hindalco’s aluminium wire rod price also experienced a growth of INR 2,250 per tonne from INR 252,350 per tonne on May 13 to INR 254,600 per tonne on May 14. Aluminium billets price came in at INR 257,600 per tonne, also up by the same amount from INR 255,350 per tonne.
Hindalco continued to expand its aluminium prices for the third consecutive day in response to the upswing of the LME aluminium benchmark price from US$2,677 per tonne on May 10 to US$2,723 per tonne on May 13. However, on a month-on-month basis, the price still stood down by 15.1 per cent from US$3,207 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.
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