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22 APRIL 2020 AL CIRCLE

Vedanta hiked aluminium ingot prices with effect from April 21

EDITED BY : HEENA IQBAL 1MINS READ

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.

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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.

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 : HEENA IQBAL 1MINS READ

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