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08 DECEMBER 2020 AL CIRCLE

Vedanta reduces its aluminium ingot price by 1.6% to INR167,250-180,250/t with effect from December 8

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Vedanta Limited has reduced the prices of its aluminium ingot and aluminium product with effect from Tuesday, December 8, following a hike last week on December 2. Vedanta has cut its aluminium ingot price by INR 2,750 per tonne or 1.62 per cent from INR 170,000-183,000 per tonne to INR 167,250-180,250 per tonne.

Vedanta reduces its aluminium ingot price by 1.6% to INR167,250-180,250/t with effect from December 8

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With the latest hike, Vedanta’s aluminium wire rod price has come in at INR 174,750-182,250 per tonne, down by INR 2,750 per tonne from INR 177,500-185,000 per tonne on December 2. Vedanta’s aluminium billets price is standing at INR 175,250 per tonne versus INR 178,000 per tonne last week.

Vedanta links the prices of its aluminium ingot and aluminium products to the three-month futures of aluminium on the London Metal Exchange, which started decreasing from December 3 from US$ 2051.50 per tonne to US$ 2028 per tonne. By Monday, December 7, the LME aluminium price decreased to stand at US$ 2004 per tonne.  So, currently, LME aluminium three-month futures price is up by US$ 232 per tonne or 13.09 per cent since the beginning of 2020.

AlCircleBiz

Aluminium operations of Hindalco Industries Limited, excluding those of its US arm Novelis Inc, generally account for nearly half of its total sales and 70% of its operating profit.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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