Depressed alumina prices have mixed impact on domestic firms, Vedanta gains

Nalco loses heavily while there is no direct impact on Hindalco

Softening international alumina prices have had a mixed impact on the performance of the three primary aluminium producers- Vedanta Ltd, Hindalco Industries and state controlled player National Aluminium Company (Nalco).

Fragile alumina prices usually benefit non-integrated producers who lean significantly on imports to feed their smelters. Anil Agarwal-controlled Vedanta Ltd has clearly profited from the plummeting international alumina prices since it imports sizeable volumes. The gain for Vedanta is reflected in its Q2 and half-yearly (April-September) performance.

In Q2 of this fiscal, Vedanta has managed to cut the cost of alumina production at its Lanjigarh refinery in Odisha by 18