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09 JANUARY 2020 AL CIRCLE

Vedanta raised aluminium ingots price by 2%

EDITED BY : HEENA IQBAL 1MINS READ

Vedanta has increased the prices of aluminium ingots by about 2% with effect from Tuesday, January 7. The price for Vedanta aluminium now stands at INR 145,000-158,000 per tonne.

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The company generally links prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium are up nearly 6% in the December quarter and Vedanta hiked prices of its products by over 4% in the same period. 

The aluminium business accounted for a third of Vedanta's consolidated sales in the September quarter. Vedanta’s net sales stood at INR 21,739 crore, down from INR 22,432 crore in the same period last year.

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The company, which has a stake in Bharat Aluminium Co Ltd and smelters at Jharsuguda in Odisha, commands a 40% share in India's primary aluminium market.


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EDITED BY : HEENA IQBAL 1MINS READ

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