Vedanta reduces its aluminium ingot price by INR 2,000/t with effect from October 21
Vedanta has reduced its aluminium products price for the second time in a row. With effect from Wednesday, 21 October 2020, the prices of some aluminium ingots are in the range of INR 152,250-165,250 per tonne, a decline of INR 2,000 per tonne or 1.3% from INR 154,250-167,250 per tonne on October 20.
Vedanta is now selling its billet at INR 160,250 per tonne on October 21. That is down INR 2,000 per tonne from INR 162,250 per tonne on October 20.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The contract on LME has risen by nearly 3% so far in 2020.
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 articleWorld primary aluminium production declines 1.81% M-o-M in September 2020, but total output in Jan-Sept up by 2.1%
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