Hindalco Industries grows its aluminium ingot price by INR1500/t to INR251000/t on January 12
Hindalco Industries Limited has continued to increase its aluminium ingot and aluminium products prices for the fourth time in a row, with effect from Wednesday, January 12. The company’s aluminium ingot price has witnessed an increase of INR 1,500 per tonne to INR 251,000 per tonne, compared to INR 249,500 per tonne on January 7.
Hindalco’s aluminium wire rod price has also been grown by INR 1,500 per tonne on January 12 from INR 260,600 per tonne to INR 262,100 per tonne. With the latest hike, Hindalco’s aluminium billets price has come in at INR 265,100 per tonne from INR 263,600 per tonne.
Hindalco links its aluminium prices to the three-month future of aluminium on the London Metal Exchange, which has been growing incessantly since the onset of January 2022. From January 7 to 11, the LME aluminium benchmark price increased by US$30.50 per tonne to stand at US$2,950 per tonne. On a month-on-month calculation, the price edged a hike of nearly US$325 per tonne from US$2,625 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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