Vedanta reports INR 2,500/t hike in its aluminium ingot price
Vedanta has hiked its aluminium products price by more than 1%. With effect from Wednesday, July 14 2021, the prices of some aluminium ingots have increased by INR 2,500 per tonne to stand at INR 215,750-228,750 per tonne, from INR 213,250-226,250- per tonne on July 13.
The billets price stands at INR 223,750 per tonne on Wednesday, July 14 2021. That was an increase of INR 2,500 per tonne from INR 221,250 per tonne on July 13.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price stood at US$ 2478 per tonne on July 13, from US$ 2449 per tonne on July 12.
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.
Three-month LME aluminium climbs 1.76% to close at US$2,538/t; SHFE aluminium increases 0.31%
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