Hindalco Industries Limited has further raised its aluminium ingot and aluminium products prices for the second time in a row with effect from Friday, May 28. Hindalco’s aluminium ingot price has seen an increase of INR 3,500 per tonne or 1.77 per cent to come in at INR 201,000 per tonne. On May 26, the company’s aluminium ingot price was at INR 197,500 per tonne, climbing by INR 2,500 per tonne from the previous day.
Hindalco is now selling its aluminium wire rod price at INR 212,100 per tonne with effect from May 28, also up by INR 3,500 per tonne from INR 208,600 per tonne on May 26. Hindalco’s aluminium billets price is now at INR 208,100 per tonne compared to INR 204,600 per tonne on May 26.
Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which during May 26-28 increased to US$ 2,404.50 per tonne. So, the price is currently up by US$ 12 per tonne month-on-month from US$ 2,392.50 per tonne and on the year by US$ 904 per tonne from US$ 1500.50 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.
Responses
