Hindalco’s aluminium ingot price grows by INR3250/t over two days ending January 18, 2022
Hindalco Industries Limited has further increased its aluminium ingot and aluminium products prices over the last two days ending January 18, 2022. The company has raised its aluminium ingot price by INR 3,250 per tonne or 1.28 per cent to INR 257,000 per tonne. On Saturday, January 15, Hindalco’s aluminium ingot price stood at INR 253,750 per tonne after being grown by INR 2,000 per tonne.
Among aluminium products prices, Hindalco’s aluminium wire rod price has come in at INR 268,100 per tonne on January 18, up by INR 3,250 per tonne from INR 264,850 per tonne on January 15. The company’s aluminium billets price has also seen a hike of INR 3,250 per tonne from INR 267,850 per tonne on January 15 to INR 271,000 per tonne on January 18.
Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which on January 14 grew by US$17.50 per tonne from US$2,960 per tonne to US$2,977.50 per tonne. That brought the month-on-month increase of US$341.50 from US$2,636 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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