Hindalco’s aluminium ingot price sees a surge of 2.6% on January 19
Hindalco Industries Limited has escalated by INR 6,250 per tonne or 2.6 per cent, with effect from Thursday, January 19. This has brought the company’s aluminium ingot price to INR 246,250 per tonne versus INR 240,000 per tonne on January 18. Hindalco’s aluminium ingot price on January 18 witnessed a decline of INR 2,500 per tonne or 1.03 per cent from INR 242,500 per tonne on the previous day.
Hindalco’s aluminium wire rod price has come in at INR 257,350 per tonne on January 19, compared to INR 251,100 per tonne on January 18. The price sees a hike today after shrinking by INR 2,500 per tonne from INR 253,600 per tonne on January 17.
With the latest hike, aluminium billets price sums at INR 260,350 per tonne, following a downfall on the previous day from INR 256,600 per tonne to INR 254,100 per tonne.
Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which grew by US$73.50 per tonne or 3 per cent to US$2,636 per tonne on January 18 following a slip of US$40.50 per tonne to US$2,562.50 per tonne on January 17.
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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