Aluminium wire rod & billets prices of Hindalco and Vedanta close the week lower by INR7250/t

Hindalco, NALCO, and Vedanta have trimmed their aluminium ingot and aluminium products prices at the end of the week in response to the LME aluminium price fall over the past three days. However, at the beginning of the week, on April 4, Hindalco and Vedanta lifted their aluminium ingot prices to INR 225,750 per tonne and INR 227,750-256,250 per tonne, respectively, which closed the week lower at INR 218,500 per tonne and INR 220,500-249,000 per tonne.

Hindalco’s aluminium wire rod and billets prices initiated the week on Tuesday, April 4, at INR 237,750 per tonne and INR 239,850 per tonne, respectively, and closed lower by INR 7,250 per tonne at INR 230,500 per tonne and INR 232,600 per tonne. Vedanta’s aluminium wire rod and billets prices stood at INR 236,250-243,750 per tonne and INR 236,250 per tonne as of April 4, which also slipped by INR 7,250 per tonne ending the week at INR 229,000-236,500 per tonne and INR 229,000 per tonne.

NALCO’s aluminium ingot price stands at INR 220,650-224,150 per tonne as of Friday, April 7, while its aluminium wire rod and billets prices range between INR 226,650-231,000 per tonne and INR 225,100-227,750 per tonne.

All three companies link their aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which plunged through the week during April 4-6 by US$80 per tonne from US$2,380.50 per tonne to US$2,300.50 per tonne.