Indian aluminium prices rose by Rs2,000/mt($28.06/mt) on Dec 25, after Hindalco and Balco increased their prices with the rise in LME spot prices. London Metal Exchange spot price of aluminium went up by $20/mt to $1790/mt on Dec 24 compared to Dec 19.
Hindalco increased P1020 prices to Rs144750-Rs145750/mt on Dec 25, up from Rs142,250- Rs143,250/mt on Dec 20.
Balco increased P1020 prices to Rs146,250-146,750/mt on Dec 25, up from Rs144,250- Rs144,250 on Dec 20.
The two producers increased prices of all other primary aluminium products with Hindalco increasing billet prices to Rs151,850/mt from Rs149,850/mt and Balco increasing ADC-12 to Rs150,450 from Rs148,450 on Dec 20.
This week’s rise in primary aluminium prices in India reflected the rise in LME prices in addition to the growth in demand from key sectors like construction, electrical transmission and automobile.