Vedanta increases its aluminium wire rod and billet prices by INR1750/t with effect from June 5
Vedanta Limited increased its aluminium products and aluminium ingot prices on Saturday, June 5, the next day after it cut the prices by INR 5,000 per tonne. The company expanded its aluminium wire rod price by INR 1,750 per tonne or 0.84 per cent to INR 211,000=218,500 per tonne, with effect from Saturday, June 5.
Vedanta’s aluminium billet price also saw an increase of INR 1,750 per tonne from INR 209,750 per tonne on June 4 to INR 211,500 per tonne on June 5.
With the last rise on June 5, Vedanta’s aluminium ingot price came in at INR 203,500-216,500 per tonne, also up by INR 1,750 per tonne from INR 201,750-214,750.
Vedanta links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which on Friday, June 4, climbed by US$ 26 per tonne to stand at US$ 2,412.50 per tonne. On a month-on-month calculation, the price stood down by US$ 22 per tonne from US$ 2,434.50 per tonne but up on the year by US$ 877.50 per tonne from US$ 1,535 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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