Hindalco Industries hikes its aluminium ingot price for the third time in a row to INR238250/t
Hindalco Industries Limited has hiked its aluminium ingot and aluminium products prices for the third time in a row, with effect from Friday, November 26. The company’s aluminium ingot price has come in at INR 238,250 per tonne, up by INR 4,000 per tonne or 1.71 per cent from INR 234,250 per tonne.
Hindalco’s aluminium wire rod price has also seen an increase of INR 4,000 per tonne from INR 245,350 per tonne on November 24 to INR 249,350 per tonne on November 26. Hindalco’s aluminium billets price is standing at INR 248,850 per tonne, INR 4,000 per tonne higher than INR 244,850 per tonne on November 24.
Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which recorded an increase of US$41.50 per tonne on November 25 to US$2,740.50 per tonne. However, on a month-on-month basis, the price stood down by US$176.50 per tonne from US$2,917 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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