Hindalco’s aluminium ingot price rallies by INR6000/t on October 21

Hindalco Industries Limited has increased its aluminium ingot and aluminium products prices for the second day in a row with effect from October 21, 2022. The company’s latest price of aluminium ingot is INR 211,500 per tonne, up by INR 6,000 per tonne or 3.17 per cent from INR 205,500 per tonne on October 20.

Hindalco’s aluminium wire rod price has also been raised by INR 6,000 per tonne from INR 216,600 per tonne on October 20 to INR 222,600 per tonne on October 21. Aluminium billets price is no exception and seen a hike of the same amount to peg at INR 225,600 per tonne as of Friday, October 21.

Hindalco Industries links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange (LME), which grew by 2.07 per cent on Thursday, October 20, to settle at US$2,214 per tonne following the last four days of downfall in a row from US$2,374 per tonne to US$2,169 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.