Vedanta’s aluminium ingot price stands lower at INR181000-194000/t with effect from March 9
Vedanta Limited has cut its aluminium ingot and aluminium products prices with effect from Tuesday, March 9, after a rise on Saturday, March 6. The aluminium ingot price has come in at INR 181,000-194,000 per tonne, representing a decline of INR 2,000 tonne from INR 183,000-196,000 per tonne on March 6.
With the latest cut, Vedanta’s aluminium wire rod price is hovering around 188,500-196,000 per tonne, also down by INR 2,000 per tonne from INR 190,500-198,000 per tonne on Saturday. The company’s aluminium billets price is at INR 189,000 per tonne as of March 9 compared to INR 191,000 per tonne on March 6.
Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which decreased on Monday, March 8, from US$ 2185 per tonne to US$ 2152.50 per tonne. On a year-on-year basis, the three-month futures of aluminium on the London Metal Exchange are currently up by about US$ 465.60 per tonne or 21.63 per cent.
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 dropped to close at US$2,172.5/t; SHFE aluminium advanced 0.17%
Next articleHydro reaches halfway milestone at the Husnes plant
Grow with
AL Circle
