Vedanta raised aluminium ingots price by 2%
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.
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.
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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