Vedanta Limited has finally increased its aluminium products and aluminium ingot prices after reducing them ceaselessly since June 11. With effect from Wednesday, June 22, Vedanta’s aluminium billet price has come in at INR 237,500 per tonne, up by INR 4,000 per tonne from INR 233,500 per tonne on May 18.
Vedanta’s aluminium wire rod price has also been heightened by INR 4,000 per tonne to sell the product at INR 236,000-243,500 per tonne. On May 18, the company’s aluminium wire rod price stood at INR 232,000-239,500 per tonne after being slumped by INR 2,250 per tonne from 234,250- 241,750 on June 17.
Vedanta’s aluminium ingot price has come in at INR 228,500-261500 as of June 22, also up by INR 4,000 per tonne from INR 224,500-257,500 per tonne on June 18.
Vedanta Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which grew by US$45.50 per tonne on June 21 to stand above US$2,500 per tonne. As per the official data, the LME aluminium benchmark price came in at US$2,519.50 per tonne as of Tuesday.
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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