Vedanta Ltd grows aluminium wire rod and billet prices by INR1750/t with effect from July 29
Vedanta Limited has further increased its aluminium ingot and aluminium products prices, although lower than the previous day, with effect from Thursday, July 29. This marks a growth for the second consecutive time since July 24, bringing Vedanta’s aluminium ingot price to INR 218,500-231,500 per tonne. The price is thus up by INR 1,750 per tonne or 0.81 per cent from INR 216,750-229,750 per tonne.
Vedanta’s aluminium wire rod price has also seen a rise of INR 1,750 per tonne from INR 224,250-231,750 per tonne on July 24 to INR 226,000-233,500 per tonne on July 29. Vedanta’s aluminium billet price has come in at INR 226,500 per tonne compared to INR 224,750 per tonne last week.
Vedanta limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which has increased this week by US$ 16.50 per tonne to US$ 2,516 per tonne as of July 28. On a month-on-month basis, the price is up by US$ 58 per tonne from 2,458 per tonne and on year by US$ 845 per tonne from US$ 1,671 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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