Vedanta reports INR 1,500/t decline in its aluminium ingot price
Vedanta has reduced its aluminium products price after hiking it on January 9. With effect from Tuesday, 12 January 2021, the prices of some aluminium ingots are in the range of INR 170,500-183,500 per tonne, marking a decline of INR 1,500 per tonne from INR 172,000-185,000 per tonne on January 09.
The company’s billet price now stands at INR 178,500 per tonne on Tuesday, 12 January 2021, a decrease of INR 1,500 per tonne from INR 180,000 per tonne on January 09.
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.
_0_0.gif)
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.
LME aluminium price dropped 1.06% to settle at US$ 2008/t; SHFE aluminium fell 2.66%
Next articleAluminium France elects Guillaume de Goÿs as new Chairman
Grow with
AL Circle
