Vedanta and Nalco hike aluminium ingots prices by 2% and 1% with effect from Friday
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.
LME aluminium continued to increase on low opening stocks and dollar price; SHFE aluminium edged down
Next articleChina saw the biggest decline in A00 aluminium ingot price; Aluminium Alloy (A356) price declined by RMB200/t
Grow with
AL Circle
