Hindalco Industries grows its aluminium ingot price by 2% with effect from April 20
Hindalco Industries Limited has again significantly increased its aluminium ingot and aluminium products prices with effect from Tuesday, March 20, following a slash on last Saturday, April 17. With the latest hike, Hindalco’s aluminium ingot price has come in at INR 203,250 per tonne, up by INR 4,000 per tonne or 2 per cent from INR 199,250 tonnes last week.
Hindalco’s aluminium wire rod price has also been expanded by INR 4,000 per tonne on April 20 to INR 214,250 per tonne, compared to INR 210,350 per tonne on April 17. Hindalco’s aluminium billets price has grown from INR 206,350 per tonne to INR 210,350 per tonne, reflecting a growth of INR 4,000 per tonne or 2 per cent as well.
Hindalco links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which on Monday, April 19, rebounded at US$ 2,331 per tonne from US$ 2,308.50 per tonne on April 16. On a year-on-year calculation, the three-month futures of aluminium on LME are therefore currently up by US$ 879.50 per tonne or 60.6 per cent.
Aluminium operations of Hindalco, 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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