Vedanta hikes its aluminium ingot price by INR 1,750/t with effect from 18 November
Vedanta has hiked its aluminium products price for the fifth time in a row. With effect from Wednesday, 18 November 2020, the prices of some aluminium ingots are in the range of INR 164,250-177,250 per tonne, up by INR 1,750 per tonne from INR 162,500-175,500 per tonne on November 14.
The company’s billet price came in at INR 172,250 per tonne on November 18, an increase of INR 1,750 per tonne from INR 170,500 per tonne on November 14.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium prices on LME are up more than 7% so far in 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.
Aluminium price climbs by RMB160/t; Al Fluoride price in China stands at RMB 8250/t
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