Vedanta Limited has continued to grow its aluminium products prices for the fifth time in row, with effect from Tuesday, September 14. According to the price list revealed by Vedanta, its aluminium billets price has come in at INR 258,750 per tonne, up by INR 4,000 per tonne or 1.57 per cent from INR 254,750 per tonne on September 11.
Vedanta’s aluminium wire rod price has also seen a hike of INR 4,000 per tonne with effect from September 14 to come in at INR 258,250-265,750 per tonne. On September 11, aluminium wire rod price was at INR 254,250-261,750 per tonne after climbing by INR 6,250 per tonne from the previous day.
Vedanta’s aluminium ingot price is hovering around INR 250,750-263,750 per tonne, compared to INR 46,750-259,750 per tonne on the last day.
Vedanta Limited links its aluminium products and aluminium ingot prices to the three month futures of aluminium on the London Metal Exchange, which, however, decreased on September 14 from US$2,950 per tonne to US$2,847 per tonne. But on a month-on-month calculation, the price is up by about US$244.50 per tonne, and on a year-on year basis, it is higher by US$1,098 per tonne than US$1,749 per tonne.
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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