Hindalco Industries further increases its aluminium ingot price by 2% to INR265250/t with effect from January 21
Hindalco Industries Limited has further increased its aluminium ingot and aluminium products prices by INR 5,250 per tonne or 2 per cent, with effect from Friday, January 21. The hike for the fourth time in a row has brought the company’s aluminium ingot price to INR 265,250 per tonne from INR 260,000 per tonne on January 20.
Hindalco’s aluminium wire rod price has come in at INR 276,350 per tonne, with effect from January 21. On January 20, the price had seen a growth of INR 3,000 per tonne to INR 271,100 per tonne. Aluminium billets price grew from INR 274,100 per tonne to INR 279,350 per tonne.
Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which on January 20 soared by US$73.50 per tonne to US$3,109.50 per tonne. That brought the price to a month-on-month hike of US$464 per tonne from US$2,645.50 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.
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