Hindalco’s aluminium ingot price gains INR2000/t to stand at INR262750/t on January 26
Hindalco Industries Limited increased its aluminium ingot and aluminium products prices, with effect from January 26, soon after it reduced the prices on the past two days. Hindalco grew its aluminium ingot price by INR 2,000 per tonne, bringing it to INR 262,750 per tonne. On January 25, Hindalco's aluminium ingot price stood at INR 260,750 per tonne after being down by INR 2,750 per tonne from the previous day.
Hindalco’s aluminium wire rod price was also increased by INR 2,000 per tonne on January 26 from INR 271,850 per tonne to INR 273,850 per tonne. Aluminium billets price saw a raise from INR 274,850 per tonne on January 25 to INR 276,850 per tonne on January 26.
Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which on January 25 climbed up by US$19.50 per tonne from US$3,044.50 per tonne to US$3,064 per tonne.
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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