Hindalco Industries Limited has increased its aluminium ingot and aluminium products prices for the third time in a row, with effect from Friday, July 30. The company’s aluminium ingot price has come in at INR 220,750 per tonne, gaining INR 2,750 per tonne from the previous day. On July 29, Hindalco sold its aluminium ingot at INR 218,000 per tonne, an increase of INR 2,000 per tonne from July 24.
Hindalco’s aluminium wire rod price has also seen a hike of INR 2,750 per tonne from INR 229,100 per tonne on July 29 to INR 231,850 per tonne on July 30. Aluminium billets price is at INR 227,850 per tonne with effect from July 30, in comparison with INR 225,100 per tonne a day ago.
Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which jumped by US$ 40.50 per tonne on July 29 to stand at US$ 2,556.50 per tonne. On a month-on-month calculation, the price is currently up by US$ 38 per tonne from 2,518.50 per tonne, and on a year-on-year basis by US$ 869.50 per tonne from US$ 1,687 per tonne.
Aluminium operations of Hindalco, 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/hindalco-further-grows-its-aluminium-ingot-price-to-inr220-750-t-with-effect-from-july-30-68969
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