Hindalco’s aluminium ingot selling price grows on September 16 to settle at INR243,750/t
Hindalco Industries Limited has slightly increased its aluminium ingot and aluminium products prices with effect from Thursday, September 16, the next day after it sharply reduced its aluminium prices by INR 8,250 per tonne. As of September 16, Hindalco’s aluminium ingot price is standing at INR 243,750 per tonnes, up by INR 1,750 per tonne or 0.72 per cent from INR 242,000 per tonne on September 15.
With the latest rise, Hindalco’s aluminium wire rod price has come in at INR 254,850 per tonne, also up by INR 1,750 per tonne from INR 253,100 per tonne. The company’s aluminium billets price has grown to INR 250,850 per tonne from INR 249,100 per tonne on September 15.
Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which on Wednesday, September 15, grew by US$21 per tonne to stand at US$2,868 per. On a month-on-month calculation, the price is up by about US$224 per tonne from 2,644 per tonne, and on a year-on-year basis, it is higher by US$1,101 per tonne than US$ 1,767 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.
LME aluminium price increases by 0.72% to come in at US$2,867; SHFE price surges by US$69
Next articleChina’s primary aluminium inventories gain 15,000 tonnes this week to stand at 766,000 tonnes: SMM
Grow with
AL Circle
