Hindalco Industries Limited continues to hike its aluminium ingot and aluminium product prices for the sixth time in a row. With effect from Wednesday, November 18, Hindalco has increased the price of its aluminium ingot from INR 165,500 on November 14 to INR 167,520 per tonne. This represents the growth of INR 1,750 per tonne or 1.06 per cent over the last four days.
After a hike today, Hindalco’s aluminium wire rod price has come in at INR 178,350 per tonne, also up by INR 1,750 per tonne from INR 176,600 per tonne. Its aluminium billets price is standing at INR 174,350 per tonne as against INR 172,600 per tonne last Saturday.
Hindalco links the prices of its aluminium ingot and aluminium products to the three-month futures of aluminium on the London Metal Exchange, which after November 14 grew to US$ 1944.50 per tonne, as of Tuesday, November 17. LME aluminium three-month futures price is thus currently up by US$ 172.50 per tonne or 9.73 per cent since the beginning of 2020.
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Aluminium operations of Hindalco Industries Limited, 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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