Hindalco grows its aluminium ingot price over the weekend ending November 30 by over 1.5% to INR233000/t

Hindalco Industries Limited has increased its aluminium ingot and aluminium products prices, with effect from Tuesday, November 30, following a sharp cut on Saturday, November 27. The latest hike has brought the company’s aluminium ingot price to INR 233,000 per tonne, up by INR 3,750 per tonne or 1.64 per cent from INR 229,250 per tonne.

Hindalco is currently selling its aluminium wire rod at INR 244,100 per tonne after increasing it by INR 3,750 per tonne from INR 240,350 per tonne on November 27. The company’s aluminium billets price has also seen a hike of INR 3,750 per tonne from INR 239,850 per tonne on November 27 to INR 243,600 per tonne, as of November 30.

Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which grew over the weekend by US$31.50 per tonne to US$2,650 per tonne on November 29. However, on a month-on-month calculation, the price stood down by US$45 per tonne from US$2,695 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.