Vedanta reduces its aluminium ingot price by INR 2,000/t with effect from October 28
Vedanta has dropped its aluminium products price on Wednesday, 28 October 2020. The prices of some aluminium ingots are in the range of INR 151,750-164,750 per tonne, representing a decline of INR 2,000 per tonne from INR 153,750-166,750 per tonne on October 22.
The company’s billet price came in at INR 159,750 per tonne on October 28, a decrease of INR 2,000 per tonne from INR 161,750 per tonne on October 22.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The LME aluminium prices have been rising 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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