Hindalco’s aluminium ingot price further accumulates INR5000/t on January 11
Hindalco Industries Limited has hiked its aluminium ingot and aluminium products prices for the second day in a row on January 11, 2023. With the recent price rise, the company’s aluminium ingot price has come in at INR 226,750 per tonne per tonne, up by INR 5,000 per tonne or 2.25 per cent from INR 221,750 per tonne on January 10.
Hindalco’s aluminium wire rod price has also seen a lift of INR 5,000 per tonne on January 11 to stand at INR 237,850 per tonne versus INR 232,850 per tonne on January 10. Hindalco’s aluminium billets price has also been raised by INR 5,000 per tonne to INR 240,850 per tonne on January 11, following a hike of INR 7,750 per tonne from INR 228,100 per tonne on January 7 to INR 235,850 per tonne on January 10.
Hindalco has back-to-back increased its aluminium ingot and aluminium products prices in line with the LME aluminium benchmark price rally. On January 9, the LME aluminium price surged by US$94 per tonne from US$2,242.50 per tonne to US$2,336.50 per tonne, followed by a jump of US$60.50 per tonne to US$2,397 per tonne on January 10.
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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