Hindalco grows its aluminium ingot price back-to-back to INR234250/t
Hindalco Industries Limited grew its aluminium ingot and aluminium products prices back-to-back on Wednesday, November 24. The company’s aluminium ingot price came in at INR 234,250 per tonne, seeing an increase of INR 3,250 per tonne from INR 231,000 per tonne on November 23.
Hindalco’s aluminium wire rod price also saw a hike of INR 3,250 per tonne from INR 242,100 per tonne on November 23 to INR 245,350 per tonne on November 24. Aluminium billets price grew from INR 241,600 per tonne to INR 244,850 per tonne, as of November 24.
Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which recorded an increase of US$37.50 per tonne or 1.41 per cent on November 23 to US$2,691 per tonne. However, on a month-on-month basis, the price stood down by US$255 per tonne from US$2,946 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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