Vedanta Limited has increased its aluminium ingot and alumium products prices, with effect from Thursday, January 6, following a slash last day. On January 6, Vedanta’s aluminium ingot price has seen a rise of INR 1,250 per tonne to peg at INR 217,500-248,000 per tonne. On January 5, the price stood at INR 216,250-246,750, down by INR 7,500 per tonne from INR 223,750-254,250 per tonne on January 4.
Vedanta’s aluminium wire rod price has also experienced a rise of INR 1,750 per tonne on January 6 to clock at INR 225,000-232,500 per tonne, compared to INR 223,750-231,250 on January 5 after being reduced by INR7,500 per tonne.
The company’s aluminium billet price has come in at INR 226,500 per tonne as of January 6 versus INR 225,250 per tonne on January 5. That reflects an increase of INR 1,250 per tonne, following a fall on the previous day by INR 7,500 per tonne from INR 232,750 per tonne.
Vedanta has slightly lifted its aluminium ingot and aluminium products prices on January 6 in response to a rise of US$20 per tonne in the three-month futures of aluminium on the London Metal Exchange to stand at US$2,270 per tonne as of January 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 of India's primary aluminium market.
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