Vedanta hikes its aluminium ingot price by INR 4,000/t
Vedanta has hiked its aluminium products price by more than 1%. With effect from Saturday, July 3 2021, the prices of some aluminium ingots have risen by INR 4,000 per tonne to stand at INR 219,750-232,750 per tonne, from INR 215,750-228,750- per tonne on July 2.
The billets price stands at INR 227,750 per tonne on Thursday, July 3 2021, marking an increase of INR 4,000 per tonne from INR 223,750 per tonne on June 30.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price stood at US$ 2539.5 per tonne on Monday, July 5, from US$ 2519.5 per tonne on Friday.
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.
LME aluminium price closed Monday’s trading at US$ 2539.5/t; SHFE aluminium advanced 2.97%
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