Both Vedanta and Nalco have increased their aluminium ingots prices with effect from Friday, January 17. While the former has hiked the price by 2 per cent, the latter has increased it by 1 per cent.
So, with the latest price hike, the aluminium ingot price of Vedanta has come in at INR 143,000-156,000 per tonne and that of Nalco INR 152,650- 156,150 per tonne.
As considered most of the aluminium producers link their products prices to the three-month futures of aluminium on London Metal Exchange, which has remained flat so far in this quarter, both Vedanta and Nalco have hiked the prices.
The aluminium business accounted for a third of Vedanta's consolidated sales in the September quarter. However, operating loss of the segment widened sequentially.
In case of Nalco, aluminium products and alumina account for nearly two-thirds of its gross topline, with sales of chemicals contributing the rest. The company also produces wire rods, billets, coils, and chequered sheets.
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