Hindalco Industries Limited has reported a further rise in its aluminium ingot and aluminium products prices, with effect from Wednesday, June 30. In comparison with the price last day, Hindalco's aluminium ingot price surged by INR 5,750 per tonne to reach at INR 215,750 per tonne, as of June 30. During June 26-29, Hindalco's aluminium ingot selling price was INR 210,000 per tonne.
Hindalco’s aluminium wire rod price has also witnessed a hike of INR 5,750 per tonne from INR 221,100 per tonne on June 26 to INR 226,850 per tonne on June 30. The company’s aluminium billets price has come in at INR 222,850 per tonne with effect from June 30, also up by INR 5,750 per tonne from INR 217,100 per tonne.
Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which after June 25 increased by US$ 67.50 per tonne to stand at US$ 2,518.50 per tonne as of June 29. On a month-on-month basis, the price is up by US$ 114 per tonne from 2,404.50 per tonne and on year by about US$ 920.50 per tonne from US$ 1,589 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.
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