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05 OCTOBER 2021 AL CIRCLE

Hindalco’s aluminium ingot price sees an increase of INR3000/t over the weekend ending October 5

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Hindalco Industries Limited has increased its aluminium ingot and aluminium products prices with effect from Tuesday, October 5, following a cut of over 1.5 per cent on Friday, October 1. Over the weekend, Hindalco’s aluminium ingot price has gained INR 3,000 per tonne to come in at INR 247,500 per tonne, in contrast to INR 244,500 per tonne.

Hindalco’s aluminium ingot price sees an increase of INR3000/t over the weekend ending October 5

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Hindalco’s aluminium wire rod price has also built up by INR 3,000 per tonne to stand at INR 258,600 per tonne. On October 1, the price stood at INR 255,600 per tonne, declining by INR 4,500 per tonne from the previous day.

The company is currently selling its aluminium billets at INR 254,600 per tonne, compared to INR 251,600 per tonne in the previous week.

Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which continued to rise on October 4 by US$24 per tonne to come in at US$2,889 per tonne. On a month-on-month calculation, the price stood up by about US$143.50 per tonne from US$2,745.50 per tonne, and on a year-on-year calculation, it was higher by US$1,143.50 per tonne than US$1,745.50 per tonne.

Outlook for the Indian Aluminium Industry

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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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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