Hindalco’s aluminium billets price continues to upswing by 2.89% w.e.f. May 21

Hindalco Industries Limited further raised its aluminium products and aluminium ingot prices on Saturday, May 21, for the second time in a week. A previous hike was on May 18 when Hindalco expnded its aluminium billets price by INR 10,500 per tonne to INR 268,100 per tonne. Three days later, Hindalco increased the price by INR 7,750 per tonne or 2.89 per cent to INR 275,850 per tonne.

Hindalco’s aluminium wire rod price also witnessed a hike of INR 7,750 per tonne, with effect from May 21, from INR 265,100 per tonne to INR 272,850 per tonne.  Aluminium ingot price was no exception but rose by the same amount to INR 261,750 per tonne. On May 18, Hindalco’s ingot price came in at INR 254,000 per tonne, escalating by INR 10,500 per tonne.

Hindalco continued to grow its aluminium ingot and products prices in response to the LME aluminium benchmark price rally by US$95 per tonne from US$2,836 per tonne on May 17 to US$2,931 per tonne on May 20. 

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.