Hindalco and Vedanta cut their aluminium selling prices by 1% with effect from May 3

Hindalco Industries Limited and Vedanta Limited have trimmed their aluminium ingot and aluminium product prices, with effect from May 3, 2024, following a plunge on the prior day by US$44.50 per tonne or 1.74 per cent. 

Hindalco has cut its aluminium ingot price by INR 2,500 per tonne or 1 per cent to INR 246,500 per tonne on May 3 versus INR 249,000 per tonne on April 30. Similarly, the company’s aluminium wire rod and aluminium billet prices have seen a cut of INR 2,500 per tonne, with effect from May 3, to stand at INR 263,500 per tonne and INR 260,600 per tonne, respectively, compared to INR 266,000 per tonne and INR 263,100 per tonne on April 30. 

Vedanta’s aluminium ingot price, on the other hand, has experienced a fall of INR 4,250 per tonne or 1.29 per cent to range between INR 249,000-269,000 per tonne, with effect from Friday, May 3. The company’s aluminium wire rod price and billet price came in at INR 258,500-267,500 per tonne and INR 259,500 per tonne, also down by INR 4,250 per tonne from INR 262,750-271,750 per tonne and INR 263,750 per tonne on May 2.