Vedanta cuts its aluminium ingot price by INR 1,500/t
Vedanta has continued to reduce its aluminium products price. With effect from Friday, 30 October 2020, the prices of some aluminium ingots are in the range of INR 150,250-163,250 per tonne, marking a decline of INR 1,500 per tonne from INR 151,750-164,750 per tonne on October 28.
The company’s billet price came in at INR 158,250 per tonne on October 30. That is down by INR 1,500 per tonne from INR 159,750 per tonne on October 28.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium prices on LME are flat so far in 2020.
Vedanta’s aluminium business typically accounts for one-third of the company’s consolidated sales. Vedanta has a stake in Bharat Aluminium Co Ltd and smelters at Jharsuguda in Odisha. It commands a 40% share in India's primary aluminium market.
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