Hindalco grows its aluminium products prices by INR1750/t on January 5 after two consecutive cuts
Hindalco Industries Limited has increased its aluminium products and aluminium ingot prices, with effect from Wednesday, January 5, 2022, following two consecutive cuts on December 30 and January 1. The company’s aluminium wire rod price has come in at INR 255,850 per tonne, up by INR 1,750 per tonne from INR 254,100 per tonne on January 1.
Hindalco’s aluminium billets price has also been increased by INR 1,750 per tonne on January 5 from INR 257,100 per tonne to INR 258,850 per tonne. Aluminium ingot price has seen a hike of INR 1,750 per tonne as well to INR 244,750 per tonne. On January 1, the metal price was at INR 243,000 per tonne after being cut by INR 2,500 per tonne.
Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which grew on January 4, 2022, by US$9.5 per tonne to US$2,815.50 per tonne. On a month-on-month basis, the price nearly stood up US$167.50 per tonne from US$2,648 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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