Vedanta’s aluminium ingot price builds up by INR3000/t on August 12 after a cut on the previous day
Vedanta Limited has revised its aluminium products and aluminium ingot prices for the three consecutive days this week since August 10. Following the price growth on Wednesday, August 10, Vedanta trimmed its aluminium ingot price by INR 2,500 per tonne the next day, August 11, to INR 225,750-255,250 per tonne. But on August 12, the company again raised the price by INR 3,000 per tonne to INR 228,750-258,250 per tonne.
Vedanta’s aluminium wire rod price also witnessed a hike of INR 3,000 per tonne on Friday, August 12, to come in at INR 236,250- 243,750 per tonne, following a cut of INR 2,500 per tonne to INR 233,250-240,750 per tonne on August 11. Aluminium billet price came in at INR 237,750 per tonne on Friday, up by INR 3,000 per tonne from INR 234,750 per tonne on August 11.
Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which shrank by US$25.50 per tonne to US$2,462.50 per tonne on August 10 but rebounded the next day to US$2,498 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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