Hindalco’s aluminium ingot price recovers INR2750/t on July 23 to stand at INR228750/t

On Saturday, July 23, Hindalco’s aluminium products prices, as well as aluminium ingot price saw a rise of INR 2,750 per tonne or 1.12 per cent, following a cut of the same amount on the previous day. Thus, Hindalco’s aluminium ingot price rebounded to INR 228,750 per tonne, with effect from July 23, from INR 226,000 per tonne on July 22.

Hindalco’s aluminium wire rod price came in at INR 239,850 per tonne on July 23 versus INR 237,100 per tonne on July 22.  Aluminium billets price amounted to INR 242,850 per tonne, seeing an increase of INR 2,750 per tonne from INR 240,100 per tonne on July 22.

Hindalco Industries links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which increased by US$34 per tonne on Friday, July 22, to stand at US$2,460 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.