Hindalco Industries increases its aluminium billets selling price by INR4500/t after two days of decline
Hindalco Industries Limited has grown its aluminium products and aluminium ingot prices with effect from Tuesday, November 23, following two consecutive days of cut on November 17 and 19. Hindalco has increased its aluminium billets price by INR 4,500 per tonne to INR 241,600 per tonne on November 23.
Hindalco’s aluminium wire rod price has also seen an increase of INR 4,500 per tonne on November 23 from INR 237,600 per tonne to INR 242,100 per tonne. The company’s aluminium ingot price is standing at INR 231,000 per tonne versus INR 226,500 per tonne on the previous day.
Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which rose to US$2,653.50 per tonne on November 22 from US$2,607.50 per tonne on November 18. That brought the price month-on-month lower by US$292.50 per tonne than US$2,946 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.
Rapid rise in SHFE/LME aluminium price ratio in October dents China’s extrusion exports, customs data
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