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20 MAY 2020 AL CIRCLE

Vedanta raises its aluminium ingot price by INR 1500/t with effect from May 20

EDITED BY : HEENA IQBAL 1MINS READ

Vedanta has increased its aluminium ingot and billets price for the second time in a row. With effect from Wednesday May 20, the prices of some aluminium ingots are in the range of INR 132,000-145,000 per tonne. This marks a growth of INR 1500 per tonne or 1.15% from INR 130,500-143,500 per tonne on May 19.

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With the latest hike, Vedanta’ billet now stands at INR 140,000 per tonne, an increase of INR 1500 per tonne or 1.08% from INR 138,500 per tonne on May 19.

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 20% 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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