Vedanta hiked aluminium ingot prices with effect from April 21
Vedanta has hiked the aluminium ingot price by nearly 1%. With effect from April 21, the prices of some ingots are in the range of INR 130,000-143,000 per tonne, from INR 128,500-141,500 per tonne.
With the latest hike, the price of billet currently stands at INR 138,000 per tonne.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium are down more than 19% so far in 2020 due to slower global demand following the coronavirus outbreak.
<iframe width="500" height="300" src="https://www.youtube.com/embed/1mMvkaoWBlk" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
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.
Grow with
AL Circle
