Vedanta’s aluminium ingot price climbs by INR 3,500/t with effect from October 9
Vedanta has raised its aluminium ingot price for the second time in a row. With effect from Friday, 09 October 2020, the prices of some aluminium ingots are in the range of INR 149,000-162,000 per tonne, marking a growth of INR 3,500 per tonne from INR 145,500-158,500 per tonne on October 6 2020.
With the latest hike, Vedanta’ billet now stands at INR 157, 000 per tonne on October 9, up INR 3,500 per tonne from INR 153,500 per tonne on October 6.
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 increased by more than 2% 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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