Vedanta cuts its aluminium ingot price by INR2,500/t with effect from January 1
Vedanta has reduced its aluminium products price for the third time in a row. With effect from Friday, 01 January 2021, the prices of some aluminium ingots are in the range of INR 163,750-176,750 per tonne. This is up by INR 2,500 per tonne from INR 166,250-179,250 per tonne on December 30.
The company’s Billet price has dropped to stand at INR 171,750 per tonne on Friday, 01 January 2021, marking a decline of INR 2,500 per tonne from INR 174,250 per tonne on December 30.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price on LME has been increasing since October.
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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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