Jan 6 (LTIT) –Vedanta has hiked its aluminium products price after declining it for the third time in a row. With effect from Tuesday, 05 January 2021, the prices of some aluminium ingots are in the range of INR 170,000-183,000 per tonne, a jump of INR 6,250 per tonne from INR 163,750-176,750 per tonne on January 01.

The company’s Billet price has risen to stand at INR 178,000 per tonne on Tuesday, 05 January 2021. That is up by INR 6,250 per tonne from INR 171,750 per tonne on January 01.

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.