Hindalco’s aluminium ingot price sees another hike this week to reach at INR 224,500/t

Hindalco Industries Limited has continued to increase its aluminium ingot and aluminium product prices by INR 1,500 per tonne or 0.67 per cent with effect from Friday, August 13. Marking the second consecutive hike this week, Hindalco’s aluminium ingot price has come in at INR 224,500 per tonne compared to INR 223,000 per tonne on August 11.

The company’s aluminium wire rod price and aluminium billet price have been increased from INR 234,100 per tonne to INR 235,600 per tonne and from INR 230,100 per tonne to INR 231,600 per tonne, respectively.

Hindalco links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which after August 10 built-up US$ 23 per tonne to reach at US$ 2,602 per tonne as of August 12. On a month-on-month calculation, the price is up by US$ 153 per tonne from 2,449 per tonne, and on a year-on-year basis by US$ 848 per tonne from US$ 1,754 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.