Hindalco’s aluminium ingot price ascends 4% to INR220250/t on October 7

Hindalco Industries Limited has further expanded its aluminium ingot and aluminium products prices on Friday, October 7, following a hike two days ago (October 5). The company has continued to raise its aluminium ingot price by INR 9,000 per tonne or 4.26 per cent after increasing it significantly by INR 7,000 per tonne on the previous day. Therefore, the ingot price is now at INR 220,250 per tonne versus INR 211,250 per tonne on October 5.

Hindalco’s aluminium wire rod price has also been raised by INR 9,000 per tonne on October 7 bringing it to INR 231,350 per tonne. On October 5, the price stood at INR 222,350 per tonne, seeing a build-up by INR 7,000 per tonne from the previous day. Aluminium billets price has come in at INR 234,350 per tonne as of October 7 compared to INR 225,350 per tonne on October 5. That reflected an increase of INR 9,000 per tonne or 3.99 per cent.

 Hindalco Industries links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which has seen a hike since the beginning of the month by US$175 per tonne to settle at US$2,355 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.