Vedanta expands its aluminium ingot price by INR4500/t on December 6
Vedanta Limited continued to increase its aluminium ingot and aluminium product prices on Tuesday, December 6. The company expanded its aluminium ingot price by INR 4,500 per tonne or 1.96 per cent to sell the products at INR 233,750-264750 per tonne. On December 3, the price had settled at INR 229,250-260,250 per tonne after witnessing a growth of INR 1,500 per tonne.
Aluminium billet price settled at INR 242,750 per tonne, up by INR 4,500 per tonne from INR 238,250 per tonne recorded on December 3. With the latest hike on December 6, Vedanta's aluminium wire rod prices also recorded a surge of INR 4,500 per tonne to halt at INR 241,250-248,750 per tonne.
Vedanta hiked its aluminium ingot and aluminium products prices on December 6 in response to the growth in the three-month futures of aluminium on the London Metal Exchange by US$36.5 per tonne to settle at US$2,485 per tonne.
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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 of India's primary aluminium market.
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