Vedanta raises its aluminium ingot price by INR 2,500/t
Vedanta has raised its aluminium products price by more than 1% today. With effect from Saturday, 27 March 2021, the prices of some aluminium ingots came in at INR 188,000-201,000 per tonne, an increase of 1.29% or INR 2,500 per tonne from INR 185,500-198,500 per tonne on March 25.
Billets price stands at INR 196,000 per tonne on Saturday, 27 March 2021, indicating a growth of INR 2,500 per tonne from INR 193,500 per tonne on March 25.
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.
Three-month LME aluminium remained unchanged to close at US$2,273.5/t; SHFE aluminium slightly up
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