Hindalco Industries’ aluminium ingot price undergoes a hike of INR2250/t on June 24

Hindalco Industries Limited further expanded its aluminium ingot and aluminium products prices, in line with the increase in global aluminium benchmark price. As of Friday, June 24, Hindalco’s aluminium ingot price closed at INR 225,750 per tonne, up by INR 2,250 per tonne or 1 per cent from INR 223,500 per tonne on the previous day.

Hindalco also raised its aluminium wire rod and billets prices by INR 2,250 per tonne on Friday, June 24. While the former pegged at INR 236,850 per tonne versus INR 234,600 per tonne a day before, the latter settled at INR 239,850 per tonne compared to INR 237,600 per tonne.

Hindalco links its aluminium ingot and aluminium products prices to the LME aluminium price, which as per the data ascended by US$24.5 per tonne or 0.99 per cent to close at US$2,480 per tonne, as of Thursday, June 23.

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.