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30 SEPTEMBER 2023 AL CIRCLE

Indian aluminium players elevate aluminium ingot prices this week; Vedanta’s price sees a hike of INR10,000/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Indian aluminium players have increased their aluminium selling price this week in tandem with the LME aluminium growth trend.  Vedanta has increased its aluminium ingot and aluminium products prices twice this week, while Hindalco once so far. On Friday, September 29, Vedanta expanded its aluminium ingot price by INR 3,500 per tonne or 1.5 per cent, bringing it to INR 217,000-231,000 per tonne. Vedanta’s aluminium wire rod and billet prices also saw a rise of the same amount to stand at INR 225,500-233,000 per tonne and INR 226,000 per tonne, respectively, as of September 29.

Indian aluminium players elevate aluminium ingot prices this week; Vedanta’s price sees a hike of INR10,000/t

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On Saturday, September 30, Vedanta’s aluminium ingot price skyrocketed by INR 6,500 per tonne or 3 per cent to range between INR 223,500-243,500 per tonne. The company’s aluminium wire rod price and aluminium billet price also experienced a hike of INR 6,500 per tonne to INR 232,000- 239,500 per tonne and INR 232,500 per tonne, respectively.

Therefore, the above data indicates that Vedanta’s aluminium ingot and aluminium products prices witnessed a hike of INR 10,000 per tonne in total this week.

Hindalco increased its aluminium prices after almost a week since it previously elevated them by INR 2,500 per tonne on September 23. On Friday, September 29, the company’s aluminium ingot price witnessed a further rise of INR 3,500 per tonne, standing at INR 219,750 per tonne. Hindalco’s aluminium wire rod and billet prices also climbed up by INR 3,500 per tonne to settle at INR 231,750 per tonne and INR 235,350 per tonne, respectively.

On September 29, NALCO’s aluminium ingot price ranged between INR 214,650-218,150 per tonne, aluminium wire rod price hovered around INR 220,650-225,000 per tonne, and aluminium billet price came in at INR 219,100-221,750 per tonne.

Indian aluminium companies link their selling prices to the three-month futures of the LME aluminium benchmark price, which gained US$125 per tonne through this week to rest at US$2,702.50 per tonne.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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