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01 JULY 2023 AL CIRCLE

Vedanta and Hindalco’s aluminium ingot prices reflect an oscillating trend this week

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Aluminium prices offered by Vedanta and Hindalco have shown a fluctuating trend this week from June 26-30. Vedanta aluminium ingot price started the week on Tuesday, June 27, at INR 203,000-227,000 tonnes, reflecting a drop of about 0.80 per cent from INR 204,750-228,750 per tonne on June 24. The very next day, June 28, the price experienced a rise of INR 3,250 per tonne to hover around INR 206,250-230,250 per tonne, but again slipped two days later by INR 4,000 per tonne to close the week on Friday, June 30, at INR 202,250-226,250 per tonne.

Vedanta and Hindalco’s aluminium ingot prices reflect an oscillating trend this week

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Similarly, Vedanta’s aluminium wire rod and billet prices also oscillated through the week. The prices initiated the week on June 27 at INR 211,500-291,000 per tonne and INR 212,000 per tonne, respectively, which grew the next day to INR 214,750-222,250 per tonne and INR 215,250 per tonne but again fell on June 30 to INR 210,750-218,250 per tonne and INR 211,250 per tonne.

Hindalco’s aluminium ingot price started the week with a dip of INR 1,500 per tonne standing at INR 205,000 per tonne as of June 27 but saw a rise of INR 3,000 per tonne on June 28 to INR 208,000 per tonne. The company’s aluminium wire rod and billets prices also saw a similar fluctuating trend starting the week at INR 217,000 per tonne and INR 219,100 per tonne and ending at INR 220,000 per tonne and INR 222,100 per tonne, respectively.

NALCO’s aluminium ingot price settled at INR 206,150-209,650 this week on June 28, while its aluminium wire rod and billets prices closed at INR 212,150-216,500 per tonne and INR 210,600- 213,250 per tonne, respectively.

Vedanta, Hindalco and NALCO drive their aluminium prices in accordance with the LME aluminium benchmark price movement. On Monday, June 26, the LME aluminium price dropped by US$16.50 per tonne to US$2,116 per tonne but rose the next day, June 27, to INR 2,151.50 per tonne. However, for the remaining days of the week, the LME aluminium price trended down by 2.56 per cent to rest at US$2,096.50 per tonne.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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