Vedanta expands its aluminium wire rod price for the second day in a row by 2% on August 27
Vedanta Limited continued to expand its aluminium products and aluminium ingot prices on Saturday, August 27. The company hiked its aluminium wire rod price by INR 4,750 per tonne or 2 per cent to INR 237,250- 244,750 per tonne. On August 26, the price stood at INR 232,500- 240,000 per tonne, seeing an increase of INR 2,000 per tonne on the previous day.
Vedanta’s aluminium billet price also experienced a rise of INR 4,750 per tonne to INR 238,750 per tonne as of August 27 versus INR 234,000 per tonne on August 26.
Aluminium ingot price is ranging between INR 229,750-259,250 per tonne, with effect from August 27, being grown by INR 4,750 per tonne from INR 225,000- 254,500 per tonne on August 26.
Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which rose sequentially by US$52.50 per tonne on Friday, August 26, to clock at US$2,495 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 in India's primary aluminium market.
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