Vedanta raised aluminium ingot price by more than 1% with effect from January 22
Vedanta has increased the prices of aluminium ingots, billets and wire rods by more than 1% with effect from Wednesday, January 22. This is the second time in a row that the company has raised the prices of its products. The price for Vedanta aluminium ingots now stands at INR 144,750-157,750 per tonne.
The company generally links prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium are flat so far in the quarter.
The aluminium business accounted for a third of Vedanta's consolidated sales in the September quarter. Vedanta’s net sales stood at INR 21,739 crore, down from INR 22,432 crore in the same period last year.
The company, which has a stake in Bharat Aluminium Co Ltd and smelters at Jharsuguda in Odisha, commands a 40% share in India's primary aluminium market.
LME aluminium price closed Thursday's trading at US$ 1781.5/t; SHFE aluminium lost 0.2%
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