Vedanta raised its aluminium ingot price by INR 3,750/t with effect from March 16
Vedanta has increased its aluminium products price by INR 3,750 per tonne. With effect from Tuesday, 16 March 2021, the prices of some aluminium ingots are in the range of INR 182,750-195,750 per tonne, representing a hike of more than 2% from INR 179,000-192,000 per tonne on March 13.
The company’s billet price is currently hovering at INR 190,750 per tonne on Tuesday, 16 March 2021, an increase of 2.01% or INR 3,750 per tonne from INR 187,000 per tonne on March 13.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price on LME has been increasing since October. The price has climbed nearly 14% in the October-December.
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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