Hindalco’s aluminium ingot price uptrends by 1.74% to INR248,250/t with effect from June 9
On Thursday, June 9, Hindalco Industries Limited’s aluminium ingot and aluminium products prices trended up by INR 4,250 per tonne or 1.74 per cent. That brought the company’s aluminium ingot price to INR 248,250 per tonne from INR 244,000 per tonne on June 8. As per the data revealed by the company, Hindalco’s aluminium ingot price underwent a slash of INR 2,000 per tonne or 0.81 per cent on June 8 from INR 246,000 per tonne on June 7.
Hindalco also increased its aluminium wire rod price by INR 4,250 per tonne from INR 255,100 per tonne on June 8 to INR 259,350 per tonne on June 9. The price on June 8 was reduced by INR 2,000 per tonne from a day before.
The price of aluminium billets expanded by INR 4,250 per tonne as well, with effect from June 9, to halt at INR 262,350 per tonne. The amount recorded on June 8 closed at INR 258,100 per tonne, which was down by INR 2,000 per tonne from INR 260,100 per tonne on June 7.
As of Thursday, June 9, Hindalco hiked its aluminium ingot and product prices in response to the LME aluminium price, which recorded an increase of US$37.50 per tonne from US$2,715 per tonne on June 7 to US$2,752.50 per tonne on June 9.
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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