Hindalco’s aluminium ingot price increases for the third time in a row to stand at INR161,750/t w.e.f. Nov 4

Hindalco Industries Limited further increased the prices of its aluminium ingot and aluminium products on November 4, marking the third consecutive hike since October 31. The price of Hindalco’s aluminium ingot is now standing at INR 161,750 per tonne after an increase of INR 4,750 per tonne or 3.03 per cent from INR 157,000 tonnes, as of November 3. This indicates an expansion in the growth of Hindalco’s aluminium ingot price compared with the rise of INR 1,750 per tonne on the previous day.

Hindalco’s aluminium billets price has come in at INR 168,850 per tonne, up by INR 4,750 per tonne as well from INR 164,100 per tonne.

The company’s aluminium wire rods price is at INR 172,850 per tonne, with effect from November 4, registering a growth of 2.83 per cent from INR 168,100 per tonne.

Hindalco links the prices of its aluminium ingot and products to the three-month futures of aluminium on the London Metal Exchange, which at the present is up by US$ 105 per tonne or 6 per cent since the beginning of the year.

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.

source https://www.alcircle.com/news/hindalcos-aluminium-ingot-price-increases-for-the-third-time-in-a-row-to-stand-at-inr161-750-t-w-e-f-nov-4-59581