Hindalco’s aluminium ingot price grows by INR1750/t on January 21 after four consecutive declines
Hindalco Industries Limited reduced its aluminium ingot and aluminium products prices by INR 2,250 per tonne on January 20 but increased a day later by INR 1,750 per tonne. On Wednesday, January 20, Hindalco’s aluminium ingot price had come in at INR 165,750 per tonne, which rebounded to INR 167,500 per tonne on Thursday, January 21.
Hindalco’s aluminium wire rod price stood down at INR 176,850 per tonne on Wednesday, January 20, compared to INR 176,850 per tonne on Tuesday, January 19. On Thursday, January 21, the company’s wire rod price rose by INR 1,750 per tonne to INR 178,600 per tonne.
Aluminium billets price hovered around INR 172,850 per tonne on January 20, up by INR 2,250 per tonne from INR 175,100 per tonne on the previous day. On January 21, the price increased to INR 174,600.
Hindalco Industries Limited links the prices of its aluminium ingot and aluminium products to the three-month futures of aluminium on the London Metal Exchange, which after January 19 rose to US$ 1992.50 per tonne. On a year-on-year basis, the three-month futures of aluminium on LME are up by US$ 182 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.
World primary aluminium production grows 3% M-o-M to 5.67MT in December 2020; Full-year production gains 2.5%
Next articleEGA, LafargeHolcim’s Geocycle UAE renew 10-year partnership to create value from waste in the UAE
Grow with
AL Circle
