Vedanta increases its aluminium wire rod price by INR3000/t w.e.f. July 5 as LME price grows over the weekend

Vedanta Limited has increased its aluminium products and aluminium ingot prices for the second time in a row, with effect from Tuesday, July 5. The company expanded its aluminium wire rod price by INR 3,000 per tonne to INR 231,000- 238,500 per tonne versus INR 228,000- 235,500 per tonne on July 1.

Vedanta’s aluminium billet price also underwent a hike of INR 3,000 per tonne from INR 229,500 per tonne on July 1 to INR 232,500 per tonne on July 5. Aluminium ingot price showed no exception but recorded a rise of INR 3,000 per tonne from INR 220,500-253,500 per tonne to INR 223,500-256,500 per tonne.

Vedanta Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which grew over the weekend by US$47.50 per tonne to stop at US$2,431.50 per tonne on July 5.

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.