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27 APRIL 2020 AL CIRCLE

Vedanta increases its aluminium ingot prices by INR1500/t

EDITED BY : HEENA IQBAL 1MINS READ

Vedanta has increased the aluminium ingot price by nearly 1% for the third time in a row. With effect from April 25, the prices of some ingots are in the range of INR 131,500-144,500 per tonne. This marks an increase of INR1500 per tonne from INR 130,000-143,000 per tonne on April 21.

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With the latest hike, Vedanta is now selling billet at INR 139,500 per tonne, a hike of INR 1500 per tonne or 1.09% from INR 138,000 per tonne on April 21.

The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium are down more than 18% so far in 2020 due to slower global demand following the coronavirus outbreak.

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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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EDITED BY : HEENA IQBAL 1MINS READ

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