Hindalco’s aluminium ingot price further uptrends by 1% with effect from May 24
Hindalco Industries’ aluminium ingot and aluminium products prices further trended up by INR 2,750 per tonne or 1 per cent, with effect from Tuesday, May 25. That brought the company’s aluminium ingot price to INR 264,500 per tonne versus INR 261,750 per tonne on May 21.
Hindalco’s aluminium wire rod price came in at INR 275,600 per tonne, seeing a rise from INR 272,850 per tonne on the previous day. Aluminium billets price stood at INR 278,600 per tonne, in contrast to INR 275,850 per tonne on May 21.
Hindalco continued to grow its aluminium ingot and products prices in response to the LME aluminium benchmark price rally by US$32 per tonne from US$2,931 per tonne on May 22 to US$2,963 per tonne on May 23.
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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.
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