Hindalco Industries Limited elevated its aluminium products prices on Saturday, January 21, following a significant slash on the previous day. Both the actions were in line with the LME aluminium price movement. On January 21, Hindalco’s aluminium billets price was lifted by INR 3,500 per tonne to INR 254,600 per tonne, after being slashed by INR 9,250 per tonne on January 20 from INR 260,350 per tonne to INR 251,100 per tonne.
Hindalco’s aluminium wire rod price also saw an increase of INR 3,500 per tonne on Saturday, reaching INR 251,600 per tonne. On Friday, January 20, the price fell by INR 9,250 per tonne from INR 257,350 per tonne to INR 248,100 per tonne.
Aluminium ingot price was no exception but also experienced a raise of INR 3,500 per tonne on Saturday, January 21, to stand at INR 240,500 per tonne. On January 20, Hindalco sharply cut its aluminium ingot price by INR 9,250 per tonne from INR 246,250 per tonne to INR 237,000 per tonne.
Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which Thursday, January 19, plummeted by US$95 per tonne to US$2,541 per tonne but climbed by US$44.50 per tonne to close the week on January 20 at US$2,585.50 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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