Hindalco Industries Limited has continued to increase its aluminium ingot and aluminium products prices for the fourth time in a row, with effect from Thursday, September 9. Hindalco’s aluminium ingot price has come in at INR 236,500 per tonne, up by INR 4,250 per tonne or 1.83 per cent from INR 232,250 per tonne on September 7.
The company is currently selling its aluminium wire rod at INR 247,600 per tonne, also an increase of INR 4,240 per tonne from INR 243,350 per tonne on the previous day. Hindalco’s aluminium billets price also saw a hike of INR 4,250 per tonne from INR 239,350 per tonne on September 7 to INR 243,600 per tonne on September 9.
Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which on September 8 jumped by US$34.50 per tonne to reach at US$2,775 per tonne. On a month-on-month basis, the price is up by about US$228 per tonne from 2,547 per tonne, and on a year-on-year calculation, it is higher by over US$1000 per tonne than US$ 1,744 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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