Hindalco Industries back-to-back grows its aluminium ingot price to INR246000/t w.e.f. January 6

Hindalco Industries Limited has back-to-back increased its aluminium ingot and aluminium products prices, with effect from Thursday, January 6, 2021. The company’s aluminium ingot price has come in at INR 246,000 per tonne, up by INR 1,250 per tonne from the previous day. On Wednesday, January 6, Hindalco’s aluminium ingot price stood at INR 244,750 per tonne increasing by INR 1,750 per tonne.

Hindalco’s aluminium wire rod price has also seen a rise of INR 1,250 per tonne on January 6 to stand at INR 257,100 per tonne. On January 5, the company’s aluminium wire rod price stood at INR 255,850 per tonne compared to INR 254,100 per tonne on January 1.

Hindalco’s aluminium billets price has totalled INR 260,100 per tonne as of January 6, compared to INR 258,850 per tonne on January 5.

Hindalco has further grown its aluminium prices in line with the three-month future of aluminium on the London Metal Exchange, which surged on January 5 by US$50.50 per tonne to stand at US$2,866 per tonne. On a month-on-month calculation, the price edged 10.21 per cent or 265.50 tonnes higher than US$2,600.50 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.