Hindalco Industries continues to grow its aluminium ingot price by INR3000/t with effect from October 8

Hindalco Industries Limited continued to expand its aluminium ingot and aluminium products prices for the third time in a row, with effect from Friday, October 8. Hindalco is presently selling its aluminium ingot at INR 253,750 per tonne, which is an increase of INR 3,000 per tonne or 1.20 per cent from INR 250,750 per tonne on October 6.

Among aluminium products, Hindalco’s aluminium wire rod price has also seen a raise of INR 3,000 per tonne from INR 261,850 per tonne to INR 264,850 per tonne on October 8. But the company’s aluminium billets price has witnessed a jump of INR 6,500 per tonne to INR 264,350 per tonne.

Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which increased on October 7 by US$36 per tonne to stand at US$2,916 per tonne. On a month-on-month basis, the price stood up by US$175.50 per tonne from US$2,740.50 per tonne, and on a year-on-year calculation, it was higher by US$1,170.50 per tonne than US$1,745.50 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.