Vedanta cuts its aluminium ingots price by INR 1,750/t with effect from February 24
Vedanta has cut its aluminium products price after hiking it for the fifth time in a row. With effect from Wednesday, 24 February 2021, the prices of some aluminium ingots are in the range of INR 191,000-178,000 per tonne, representing a decline of INR 1,750 per tonne from INR 192,750-179,750 per tonne on February 19.
The company’s billet price now stands at INR 186,000 per tonne on Wednesday, 24 February 2021, a decrease of INR 1,750 per tonne from INR 187,750 per tonne on February 19.
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. The price has climbed nearly 14% in the October-December.
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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