Hindalco Industries increases aluminium ingot price back-to-back to INR250750/t
Hindalco Industries Limited further increased its aluminium ingot and aluminium products prices on the immediate next day, on October 6, 2021. That brought the company’s aluminium ingot price to INR 250,750 per tonne, up by INR 3,250 per tonne or 1.31 per cent from INR 247,500 per tonne on October 5.
Hindalco’s aluminium wire rod price also witnessed a hike of INR 3,250 per tonne from INR 258,650 per tonne to INR 261,850 per tonne on October 6. Aluminium billets selling price is now settled at INR 257,850 per tonne, compared to INR 254,600 per tonne on the previous day.
Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which further grew on October 5 by US$5.50 per tonne to US$2,894.50 per tonne but decreased the next day by US$ 14.50 per tonne to US$ 2,880 per tonne. On a month-on-month calculation, the price stood up by US$134.50 per tonne from US$2,745.50 per tonne, and on a year-on-year calculation, it was higher by US$1,125 per tonne than US$1,755 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.
LME aluminium decreases by 0.50% to US$2,880/t; SHFE market is closed for the National Day holiday
Next articleLME aluminium price increases by 1.25% to US$2,916/t; SHFE market resumes at US$3,562/t after a week long holiday
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