Vedanta raises its aluminium ingots price by INR 1,500/t
Vedanta has hiked its aluminium products price by INR 1,500 per tonne. With effect from Saturday, 06 March 2021, the prices of some aluminium ingots are in the range of INR 183,000-196,000 per tonne, representing an increase of 0.83 per cent from INR 181,500-194,500 per tonne on March 5.
The company’s billet price now stands at INR 191,000 per tonne on Saturday, 06 March 2021, a growth of INR 1,500 per tonne from INR 189,500 per tonne on March 5.
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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Next articleLME aluminium price edged 0.74% higher to US$2185/t; SHFE price gained US$40/t to stand at US$2686/t
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