Hindalco’s aluminium ingot price builds up by INR2500/t with effect from September 23

Hindalco Industries Limited increased its aluminium ingot and aluminium products prices on Friday, September 23, followed by a cut on the previous day. The company added INR 2,500 per tonne to its aluminium ingot price to sell the product at INR 203,750 per tonne versus INR 201,250 per tonne on September 22.

Hindalco’s aluminium wire rod price also gained INR 2,500 per tonne on September 23 to come in at INR 214,850 per tonne. On September 22, the wire rod price stood at INR 212,350 per tonne, down by INR 3,000 per tonne from September 20. Hindalco’s aluminium billets price was no exception but also experienced a growth of INR 2,500 per tonne from INR 215,350 per tonne to INR 217,850 per tonne.

Hindalco Industries links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which gained US$4.50 per tonne on September 22 after a downfall of US$ 54.50 per tonne from US$2,245.50 per tonne to US$2,191 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.