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20 JANUARY 2021 AL CIRCLE

Vedanta extends aluminium ingot price cut for the third consecutive day this week by INR2250/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Vedanta Limited has extended the price cut of its aluminium ingot and aluminium products by INR 2,250 per tonne with effect from January 20, 2021, as the three-month futures of aluminium on the London Metal Exchange continued to shrink till January 19, marking the third consecutive day of fall. Vedanta is currently selling its aluminium ingot price at INR 165,500-178,500 per tonne versus INR 167,750-180,750 per tonne on January 19.

Vedanta extends aluminium ingot price cut for the third consecutive day this week by INR2250/t

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With the latest price cut for the third consecutive day, Vedanta’s aluminium wire rod price has come in at INR 173,000-180,500 per tonne compared to INR 175,250-182,750 per tonne on the previous day. Vedanta’s billet price has pegged at INR 173,500 per tonne.

Vedanta Limited links the prices of its aluminium products and aluminium ingot to the three-month futures of aluminium on the London Metal Exchange, which on Tuesday, January 19, decreased by US$ 28 per tonne to US$ 1951.50 per tonne. On a year-on-year calculation, the three-month futures of aluminium on LME are currently up by about US$ 144.50 per tonne.

Aluminium Industry Recap: 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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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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