
Two major Indian aluminium producers Vedanta and Hindalco have raised their ingot prices in the domestic market.
Vedanta has increased the prices of aluminium ingots by more than 1% with effect from December 25. The price for Vedanta aluminium now stands at INR 143,750-156,750 per tonne. This is the second time in a row that the company has raised the prices of its products.
{alcircleadd}
The Indian producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. So far this quarter, the three-month futures of aluminium are up more than 5% on the London Metal Exchange.
Similarly, Hindalco Industries Ltd has raised the prices of its aluminium ingots, billets and wire rods by more than 1% with effect from December 25. The price for Hindalco aluminium now stands at INR 145,250-155,850 per tonne.
Hindalco Industries' aluminium operations, excluding those of Novelis Inc, generally account for nearly half of its sales and 70% of its operating profit.
Responses







