Hindalco’s aluminium ingot price elevates for the second time in a row by INR2250/t on August 11

Hindalco Industries Limited has raised its aluminium ingot and aluminium products prices for the second time in a row, with effect from Thursday, August 11. The company’s aluminium ingot price has accumulated INR 2,250 per tonne to come in at INR 227,750 per tonne, following a hike of INR 4,500 per tonne to INR 225,500 per tonne on August 6.

Hindalco’s aluminium wire rod price has also been raised by INR 2,250 per tonne, with effect from August 11, to be sold at INR 238,850 per tonne. On August 6, the product saw an increase of INR 4,500 per tonne from INR 232,100 per tonne to INR 236,600 per tonne.

Aluminium billets price stands no exception but also seen a raise of INR 2,250 per tonne to INR 241,850 per tonne, with effect from August 11. On August 6, the price stood at INR 239,600 per tonne versus INR 235,100 per tonne on August 4.

Hindalco Industries links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which escalated by US$50.50 per tonne from US$2,447.50 per tonne on August 5 to US$2,498 per tonne on August 11.

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.