Vedanta Aluminium to expand, targets production cost of $600-1,000/ton, new name finalised
The name of the company that would house the company's aluminium business has also been finalised, said a top official of the aluminium business vertical.
Aluminium prices has surged 1.14 per cent to Rs 230.65 per kg in the futures trade on Monday. This comes as speculators built up fresh positions amid a positive trend in the spot market.
On the Multi Commodity Exchange, aluminium contracts for the October delivery gained Rs 2.60, or 1.14 per cent, to Rs 230.65 per kg in a business turnover of 1,906 lots.
Analysts said creation of fresh positions by traders on demand from consumer industries supported aluminium prices in the futures market.
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