Vedanta hikes its aluminium ingot price by INR 4,500/t with effect from November 4

Vedanta has hiked its aluminium products price for the second time in a row. With effect from Wednesday, 04 November 2020, the prices of some aluminium ingots are in the range of INR 159,500-172,500 per tonne. That was up by INR 4,500 per tonne from INR 155,000-168,000 per tonne on November 3.

The company’s billet price came in at INR 167,500 per tonne on November 4, a jump of INR 4,500 per tonne from INR 163,000 per tonne on November 3.

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 nearly 2% 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.