Hindalco’s aluminium billets price sees an increase of 0.75% to INR267850/t with effect from January 15
Hindalco Industries Limited increased its aluminium products and aluminium ingot prices on Saturday, January 15, following a cut in the preceding day. The company grew its aluminium billets price by INR 2,000 per tonne or 0.75 per cent to INR 267,850 per tonne. On January 14, the price stood at INR 265,850 per tonne after being cut by INR 3,500 per tonne.
On January 15, Hindalco’s aluminium wire rod price also saw a hike of INR 2,000 per tonne from INR 262,850 per tonne on January 14 to INR 264,850 per tonne on January 15. Aluminium ingot price came in at INR 253,750 per tonne, compared to INR 251,750 per tonne on the previous day.
Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which on January 14 grew by US$17.50 per tonne from US$2,960 per tonne to US$2,977.50 per tonne. That brought the month-on-month increase of US$341.50 from US$2,636 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.
Downstream weekly recap: Kaiser Aluminum declares a quarterly cash dividend of US$0.77 per share; TANAKA Denshi Kogyo to set up new plant for aluminium bonding wires in Hangzhou, China
Next articleAluminum Association CEO says US aluminum industry investment back on track
Grow with
AL Circle
