Vedanta’s aluminium billet price recovers from the decline by INR3000/t on August 11
Vedanta Limited has increased its aluminium product prices on August 11, a day after it significantly reduced the prices on August 10. The latest hike has brought the company’s aluminium billet price to INR 231,500 per tonne, up by INR 3,000 per tonne from INR 228,500 per tonne.
Vedanta’s aluminium wire rod price has come in at INR 231,000-238,500 per tonne, also an increase of INR 3,000 per tonne from INR 228,000-235,500 per tonne on August 10.
The company’s aluminium ingot price has also been raised by INR 3,000 per tonne from INR 220,500-233,500 per tonne to INR 223,500-236,500 per tonne on August 11.
Vedanta limited links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which rose by US$ 32 per tonne on August 10 to US$ 2,579 per tonne. On a month-on-month calculation, the price is up by US$ 130 per tonne from 2,449 per tonne, and on a year-on-year basis by US$ 849 per tonne from US$ 1,730 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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