Vedanta lifts its aluminium wire rod price by INR2000/t on Nov. 30 following back-to-back cuts
Vedanta Limited has increased its aluminium products and aluminium ingot prices following back-to-back cuts on November 24, 25 and 29. On Wednesday, November 30, Vedanta has hiked its aluminium wire rod price by INR 2,000 per tonne to sell the product at INR 228,750-236,250 per tonne.
Aluminium billet price currently stands at INR 230,250 per tonne, up by INR 2,000 per tonne from INR 228,250 per tonne recorded on the previous day. With the latest hike on November 30, Vedanta's aluminium ingot price has shown no exception but has grown by INR 2,000 per tonne to settle at INR 221,250-252,250 per tonne.
Vedanta has lifted its aluminium products and aluminium ingot prices on November 30 in response to the rise of the three-month futures of aluminium on the London Metal Exchange. On November 29, the LME aluminium benchmark price went up by US$26 per tonne to close at US$2,341.50 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 of India's primary aluminium market.
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