Vedanta’s aluminium ingot price stands at INR 153,500-166,500/t
Vedanta has raised its aluminium products price for the fifth time in a row. With effect from Wednesday, 14 October 2020, the prices of some aluminium ingots are in the range of INR 153,500-166,500 per tonne. That is up by INR 1,500 per tonne from INR 152,000-165,000 per tonne on October 13 2020.
Vedanta is now selling its billet at INR 161,500 per tonne on October 14, registering a hike of INR 1,500 per tonne from INR 160,000 per tonne on October 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 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.
Three-month LME aluminium ended lower at US$1,853/t; SHFE aluminium rose 0.9%
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