Hindalco Industries hiked aluminium ingots price by nearly 1% with effect from January 22
Hindalco Industries Ltd has increased the prices of aluminium ingots, billets, and wire rods by nearly 1%. With effect from January 22, the aluminium ingot price now stands at INR 146,750 per tonne, an increase of 0.86% from INR 145,500 per tonne on January 18. This is the second time in a row that the company has raised the prices of its aluminium ingots.
Hindalco has raised the prices of wire rods and billets by 0.8% and 0.82% from January 18. The prices for Hindalco products now stand at INR 157,350 per tonne and INR 153,350 per tonne, from INR 156,100 per tonne and INR 152,100 per tonne.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium are up less than 1% so far this month.
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.
China’s primary aluminium inventories jumped 60,000 tonnes; A00 aluminium price stands at RMB 14100/t
Next articleLME aluminium price closed Thursday's trading at US$ 1781.5/t; SHFE aluminium lost 0.2%
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