Vedanta’s aluminium ingot price accumulates INR5250/t on November 2; products prices show no exception

Vedanta Limited has expanded its aluminium ingot and aluminium products prices, effective from Wednesday, November 2, soon after it cut the prices on the previous day. On November 1, the company reduced its aluminium ingot price by INR 2,750 per tonne to INR 210,250- 240,750 per tonne, following which it hiked the price by INR 5,250 per tonne on November 2 to INR 215,500- 246,000 per tonne.

Vedanta’s aluminium billets price has been also been raised by INR 5,250 per tonne, with effect from November 2, to sell the product at INR 224,500 per tonne, after deducting INR 2,750 per tonne from the item on November 1 to INR 219,250 per tonne. Aluminium wire rod price is currently hovering around INR 223,000- 230,500 per tonne since November 2, seeing an increase of INR 5,250 per tonne. On November 1, the price was cut by INR 2,750 per tonne to INR 217,750- 225,250 per tonne.

Vedanta hiked its aluminium ingot and aluminium products prices on November 2 in response to the growth in the three-month futures of aluminium on the London Metal Exchange by US$48.50 per tonne to US$2,245.50 per tonne on November 1.

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.