Vedanta Limited has raised its aluminium ingot and aluminium products prices with effect from Wednesday, January 13, just a day after reducing the prices by INR 1,500 per tonne. Vedanta is currently selling its aluminium ingot at INR 171,750-184,750 per tonnes, up by INR 1,250 per tonne or 0.73 per cent from INR 170,500-183,500 per tonne on January 12.
With the latest hike, Vedanta’s aluminium wire rod price has come in at INR 179,250-186,750 per tonne in comparison with INR 178,000-185,500 per tonne on January 12. This registers an increase of INR 1,250 per tonne.
Vedanta’s aluminium billet price is at INR 179,750 per tonne on January 13, standing INR 1,250 per tonne higher than INR 178,500 per tonne.
Vedanta Limited links the prices of its aluminium products and aluminium ingot to the three-month futures of aluminium on the London Metal Exchange, which on January 12 increased to US$2025.50 from US$ 2008 per tonne on January 11. On a year-on-year calculation, the three-month futures of aluminium on LME are up by 14.31 per cent.
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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