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18 MARCH 2022 AL CIRCLE

Hindalco’s aluminium ingot price builds up by INR6750/t on March 17 as LME price rallies

EDITED BY : DEBANJALI SENGUPTA 1MINS READ

After two consecutive days of cut this week, Hindalco Industries Limited increased its aluminium ingot and aluminium products prices on Thursday, March 17, relating to the recovery in LME aluminium benchmark price. Hindalco raised its aluminium ingot price by INR 6,750 per tonne to INR 288,500 per tonne, with effect from March 17. On March 16, the price stood at INR 281,750 per tonne, seeing a slash of INR 15,500 per tonne.

Hindalco’s aluminium ingot price builds up by INR6750/t on March 17 as LME price rallies

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Hindalco’s aluminium billets price also saw a hike of INR 6,750 per tonne on March 17 from INR 295,850 per tonne on March 16 to INR 302,600 per tonne. The company’s aluminium wire rod price saw a jump to INR 299,600 per tonne from INR 292,850 per tonne.

Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which gained US$88.50 per tonne on March 16 to settle at US$3,306 per tonne. But that still brought the price month-on-month lower by US$24 per tonne than US$3,282 per tonne.

Global Aluminium Industry Outlook 2022

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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EDITED BY : DEBANJALI SENGUPTA 1MINS READ

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