Vedanta Ltd raised prices of aluminium ingots by more than 1% with effect from Wednesday Dec 12, making the price of P1020 / EC High purity ingot reach INR 158,758. However, the next day, it cut prices again by almost one per cent effective from December 13. With Wednesday’s hike, rates of these products were at their highest level in nearly a month. However, after the price cut, the price for Vedanta aluminium ingot stands at INR 157,500 (USD 2215) per tonne. The price cut followed nearly 3% increases in prices of these products last week.
{alcircleadd}Even after the price hike today, rates of these products are down 4-5% for the quarter. The three-month future price of aluminium on the London Metal Exchange is down more than 4% for the same period. The three-month aluminium price in London Metal Exchange has fallen 4% since the start of the quarter and stood at US$ 1932 per tonne on December 13.
Hindalco has not changed its price after the last hike in December 4. Nalco’s aluminium ingot/sow ingot price stands at 164350 as updated in December 6.
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