Vedanta’s aluminium ingot price declines by INR 1,250/t with effect from December 9
Vedanta has cut its aluminium products price for the second time in a row. With effect from Wednesday, December 9 2020, the prices of some aluminium ingots are in the range of INR 166,000-179,000 per tonne, down by INR 1,250 per tonne from INR 167,250-180,250 per tonne on December 8.
Billet price came in at INR 174,000 per tonne on December 9, registering a decrease of INR 1,250 per tonne from INR 175,250 per tonne on December 8.
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.
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 closed Tuesday’s trading at US$ 1986/t; SHFE aluminium dropped 1.02%
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