Vedanta raises its aluminium products prices by INR2250/t following an intermittent cut

Vedanta Limited increased its aluminium products and aluminium ingot prices with effect from Saturday, January 9, following an intermittent cut on Friday, January 8. That marked the fifth consecutive day since Tuesday, January 5, that Vedanta revised its aluminium products and ingot prices. With the latest hike, Vedanta's aluminium wire rod price has come in at INR 179,500-187,000 per tonne, up by INR 2,250 per tonne from INR 177,250-184,750per tonne on January 8.

Vedanta raised its aluminium billets price by INR 2,250 per tonne as well from INR 177,750 per tonne to INR 180,000 per tonne, with effect from Saturday, January 9.

Vedanta is selling its aluminium ingot at INR 172,000-185,000 per tonne since Saturday in comparison with INR 169,750-182,750 per tonne on Friday.

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 between January 5 and 8 stood range-bound at US$2027.50-2029.50 per tonne. On a year-on-year calculation, the three-month futures of aluminium on LME are up by US$ 258.50 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.