Hindalco’s aluminium ingot price grows by INR2000/t to INR227,750/t with effect from September 3

Hindalco Industries Limited increased its aluminium ingot and aluminium products prices with effect from September 3, the next day after it reduced the prices by INR 4,000 per tonne. The company’s aluminium ingot price came in at INR 227,750 per tonne, up by INR 2,000 per tonne or 0.90 per cent from INR 225,750 per tonne.

Hindalco started selling its aluminium wire rod at INR 238,850 per tonne with effect from September 3, also an increase of INR 2,000 per tonne from INR 236,850 per tonne on September 2. Aluminium billets price stood at INR 234,850 per tonne since the latest hike, compared to INR 232,850 per tonne.

Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which after September 1 grew by US$28.50 per tonne to stand at US$2,696 per tonne as of September 3. On a month-on-month basis, the price is up by US$100.50 per tonne from 2,595.50 per tonne, and on a year-on-year calculation, it is higher by US$953 per tonne than US$ 1,743 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.