Aluminium prices of Hindalco, Vedanta & NALCO recorded sluggish last week during May 23-25

At the beginning of the last week, aluminium prices of Indian giants like Hindalco and Vedanta trended downwards in line with the LME aluminium price drop but increased later as the global benchmark price speared up. On Tuesday, May 23, Hindalco cut its aluminium ingot and aluminium products prices by INR 3,750 per tonne or 1.6 per cent, bringing the ingot price to INR 220,000 per tonne. Hindalco’s aluminium wire rod and billets prices stood at INR 232,000 per tonne and INR 234,100 per tonne.

On May 24, Hindalco further reduced its aluminium prices by INR 5,250 per tonne, resulting in the aluminium ingot price at INR 214,750 per tonne, aluminium wire rod price at INR 226,750 per tonne, and aluminium billets price at INR 228,850 per tonne. On May 25, the company added INR 2,500 per tonne to its aluminium prices, which brought the ingot price to INR 217,250 per tonne, aluminium wire rod price to INR 229,250 per tonne, and aluminium billets price to INR 231,350 per tonne.

Overall during May 23-25, Hindalco’s aluminium ingot and aluminium products prices edged 1 per cent or 2,750 tonnes fall.

Similarly, Vedanta’s aluminium prices also recorded a fall of 1 per cent during May 23-25. Vedanta’s aluminium ingot price started the week, May 23, at INR 218,250-242,250 per tonne after a cut of 1.6 per cent from the previous day and settled at INR 215,500-239,500 per tonne on May 25. On May 24, Vedanta reduced its ingot price by 2 per cent to INR 212,750-236,750 per tonne but increased it the next day by 1 per cent.

Vedanta’s aluminium billets and wire rod prices began the week at INR 221,750 per tonne and INR 221,250-228,750 per tonne, respectively, and stopped at INR 224,500 per tonne and INR 224,000-231,500 per tonne.

NALCO’s aluminium ingot price stood at INR 216,450-219,950 per tonne on May 26, down by 2.2 per cent from INR 221,450-224,950 per tonne a month ago. The company’s aluminium wire rod and billets prices also experienced a month-on-month decline of 2 per cent, coming in at INR 223,550-226,250 per tonne and INR 220,900-223,550 per tonne, respectively.