Vedanta raises its aluminium ingot price by INR 2,750/t to INR 228,250-241,250/t
Vedanta has hiked its aluminium products price by INR 2,750 per tonne. With effect from Wednesday, 25 August 2021, the prices of some aluminium ingots stand at INR 228,250-241,250 per tonne, up by more than 1% from INR 225,500-238,500- per tonne on August 24.
The billets price stands at INR 236,250 per tonne on 25 August 2021, indicating a growth of INR 2,750 per tonne or 1.18% from INR 233,500 per tonne on August 24.
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The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price stood at US$ 2648.5 per tonne on August 24, from US$ 2609 per tonne on August 23.
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 settled 0.39% higher at US$2,604/t, SHFE aluminium edged up 0.20%
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