Vedanta hikes its aluminium ingot price by INR 1,500/t
Vedanta has hiked its aluminium products price after cutting it for the second time in a row. With effect from Thursday, December 10 2020, the prices of some aluminium ingots are in the range of INR 167,500-180,500 per tonne. This marks an increase of INR 1,500 per tonne from INR 166,000-179,000 per tonne on December 9.
Billet price has risen to stand at INR 175,500 per tonne on December 10, representing a growth of INR 1,500 per tonne from INR 174,000 per tonne on December 9.
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.
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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