Hindalco & Vedanta upgrade their aluminium prices by 2% this week in line with LME price rally

Indian aluminium giants like Hindalco, Vedanta, and NALCO have increased their aluminium prices twice this week in line with the LME aluminium price rally by US$64.50 per tonne from August 29-September 1.

Hindalco Industries Limited upgraded its aluminium prices on August 31 by INR 2,500 per tonne or 1.2 per cent, bringing the aluminium ingot price to INR 210,500 per tonne versus INR 208,000 per tonne on August 25. With almost a week-on-week hike, Hindalco's aluminium wire rod and aluminium billets prices stood at INR 222,500 per tonne and INR 224,600 per tonne, respectively, on August 31, compared to INR 220,000 per tonne and INR 222,100 per tonne on August 25.

The next day, Hindalco further increased its aluminium prices by INR 2,000 per tonne. Hence, on September 1, Hindalco's aluminium ingot price came in at INR 212,500 per tonne, and its aluminium wire rod and billets prices at INR 224,500 per tonne and INR 226,600 per tonne, respectively. So, overall, the company's aluminium prices experienced a rise of INR 4,500 per tonne this week.

On the other hand, Vedanta Limited increased its aluminium prices by INR 4,000 per tonne this week on August 31 and September 1. On August 31, Vedanta's aluminium ingot price stood at INR 207,750-227,750 per tonne, up by INR 2,000 per tonne from INR 205,750-225,750 per tonne on August 25. Aluminium wire rod and billets prices ranged between INR 216,250-223,750 per tonne and INR 216,750 per tonne, also up by INR 2,000 per tonne from the previous day.

On September 1, Vedanta's aluminium prices again saw a rise of INR 2,000 per tonne, which brought the ingot price to INR 209,750-229,750, aluminium wire rod price to INR 218,250-225,750 per tonne, and aluminium billets price to INR 218,750 per tonne.

NALCO also revised its aluminium prices on September 1. The company's aluminium ingot price initiated the month at INR 210,050-213,550 per tonne, aluminium wire rod price at 216,050-220,400 per tonne, and aluminium billets price at INR 214,500-217,150 per tonne.

The Indian aluminium companies increase or decrease their aluminium prices in line with the global benchmark prices on the London Metal Exchange. This week, the LME aluminium price commenced the week on August 29 at US$2,116.50 per tonne and closed the week at US$2,184 per tonne, registering a surge of 3.19 per cent through the week.