Vedanta hikes its aluminium ingot price by INR 3,500/t with effect from October 17
Vedanta has raised its aluminium products price today after reducing it yesterday. With effect from October, 17 October 2020, the prices of some aluminium ingots are in the range of INR 155,500-168,500 per tonne. The price recorded a hike of INR 3,500 per tonne or 2.3% from INR 152,000-165,000 per tonne on October 16 2020.
Vedanta is now selling its billet at INR 163,500 per tonne on October 14. That is up INR 3,500 per tonne from INR 160,000 per tonne on October 16.
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 risen by more than 1% 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.
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Next articleLME aluminium price trended up this week from $1829.5/t to $1865.5/t amid declining opening stock; SHFE price rose to $2185/t
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