Vedanta: 3,000 tonnes aluminum sold to Asian market

MUMBAI: Vedanta group, promoted by Anil Agarwal, announced that the company has sold 3,000 tonnes of aluminum in the Asian market on Thursday. Total cost of the sold aluminum is around $242 per ton over the London Metal Exchange (LME) price.

The sale was on a cost insurance and freight basis, the company said in a statement. "The metal will be shipped in three lots from July to September. The demand for Indian origin metal is increasing as there is very little metal available in the spot market".

Vedanta group has earlier sold same amount of aluminum to an Asian buyer at a premium of around $220 per ton last week. The company is internationally diversified natural resources group which is devoted to sustainable development, contributing to the economies of diverse fields and supporting local communities.