Vedanta hikes its aluminium ingot price by INR 4,500/t on July 24
Vedanta has raised its aluminium products price by more than 2%. With effect from Saturday, July 24 2021, the prices of some aluminium ingots have risen by INR 4,500 per tonne to stand at INR 216,750-229,750 per tonne, from INR 212,250-225,250- per tonne on July 20.
The billets price stands at INR 224,750 per tonne on Saturday, July 24 2021. That marked an increase of INR 4,500 per tonne from INR 220,250 per tonne on July 20.
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$ 2449 per tonne on July 22, from US$ 2432 per tonne on July 21.
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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