Vedanta raises its aluminium ingot price by INR 2,750/t on May 8
Vedanta has raised its aluminium products price for the fifth time in a row. With effect from Saturday, 08 May 2021, the prices of some aluminium ingots have increased by 1.3% or INR 2,750 per tonne to stand at INR 214,000-227,000 per tonne from INR 211,250-224,250 per tonne on May 7.
The company’s billets price stands at INR 222,000 per tonne on Saturday, 08 May 2021, marking a growth of INR 2,750 per tonne or 1.25% from INR 219,250 per tonne on May 7.
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 stood at US$ 2,476.50 per tonne on Thursday, May 6, an increase of US$ 229.50 per tonne or 10.21 per cent month-on-month.
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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