Hindalco’s aluminium ingot price sees a rise of INR1250/t on June 28 after an intermittent cut last week
Hindalco Industries Limited has again increased its aluminium ingot and aluminium products prices, with effect from Tuesday, June 28, following an intermittent cut of INR 3,500 per tonne on May 25. Today, on June 28, Hindalco’s aluminium ingot price has seen a rise of INR 1,250 per tonne or 0.56 per cent to INR 223,500 per tonne. After a deduction on the previous day, May 25, the price stood at INR 222,250 per tonne.
Hindalco’s aluminium wire rod price has also experienced a rise of INR 1,250 per tonne on June 28 to come in at INR 234,600 per tonne versus INR 233,350 per tonne on June 25. The company's aluminium billets price has recorded no exception but a growth of INR 1,250 per tonne to settle at 237,600 per tonne today, as against INR 236,350 per tonne on May 25.
Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which as per the data, built up by US$17 per tonne to US$2,453 per tonne on June 27 from US$2,436 per tonne on June 24.
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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