Hindalco Industries Limited increased its aluminium ingot and aluminium products prices with effect from Wednesday, December 22, after a cut on the previous day. Hindalco’s aluminium ingot price came in at INR 238,250 per tonne on December 22 after being grown by INR 3,000 per tonne from INR 235,250 per tonne on December 21. The price on December 21 was cut by INR 4,500 per tonne from December 18.
The hike on December 22 brought Hindalco’s aluminium wire rod price to INR 249,350 per tonne, meaning the price saw an increase of INR 3,000 per tonne from INR 246,350 per tonne on December 21. Hindalco’s aluminium billets price stood at INR 252,350 per tonne as of December 22, in comparison with INR 249,350 per tonne on the previous day.
Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which from December 20 to 22 grew by US$165.50 per tonne to US$2,811 per tonne. On a month-on-month basis, the price stood up by US$157.50 per tonne from US$2,653.50 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.
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