Hindalco’s aluminium ingot price experiences an increase of INR2000/t with effect from August 26
Hindalco Industries Limited has added on INR 2,000 per tonne to its aluminium ingot and aluminium products prices, with effect from Friday, August 26. This brings the company’s aluminium wire rod price to INR 238,350 per tonne, compared with INR 236,350 per tonne on August 25. Hindalco’s aluminium wire rod price on August 25 was deducted by INR 1,750 per tonne.
Hindalco’s aluminium billets price has come in at INR 241,350 per tonne, with effect from August 26, versus INR 239,350 per tonne on August 25. Aluminium ingot price has amounted to INR 227,250 per tonne as against INR 225,250 per tonne on the previous day.
Hindalco Industries links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which rose by US$53 per tonne to US$2,495 per tonne as of August 26.
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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.
LME aluminium price trended up this week by US$107.50/t; SHFE price accumulated US$18/t through the week
Next articlePrimary aluminium weekly recap: Speira’s German aluminium smelter plans to reduce production by 50% as energy cost bites; European aluminium smelters being victim to energy price surge
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