Vedanta raises its aluminium wire rod and billets prices by INR3750/t on April 23
Vedanta Limited has raised its aluminium products and aluminium ingot prices by INR 3,750 per tonne with effect from Friday, April 23. Hence, the company is now selling its aluminium wire rod price at INR 213,250-220,750 per tonne compared to INR 209,500-217,000 per tonne on April 20.
Vedanta’s aluminium billets price has come in at INR 213,750 per tonne as of April 23, up by INR 3,750 per tonne or 1.79 per cent from INR 210,000 per tonne. The company’s aluminium ingot price has also been grown by INR 3,750 per tonne to INR 205,750-218,750 per tonne on April 23.
Vedanta links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which after April 20 increased by US$ 49.50 per tonne to US$ 2,373.50 per tonne as of Thursday, April 22. On a year-on-year calculation, the three-month futures of aluminium on LME are therefore currently up by US$ 912 per tonne or 62.40 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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