Vedanta’s aluminium ingot price gains INR1250/t on December 16 as LME price grows slightly
Vedanta Limited’s aluminium ingot and aluminium products prices have rebounded on December 16 after a dip on the previous day. On Thursday, December 15, the company cut its aluminium ingot selling price by INR 1,250 per tonne to INR 228,250- 259,250 per tonne but added to same amount on the next day to bring its ingot price back to INR 227,000 -258,000 per tonne.
Vedanta’s aluminium wire rod price also built up INR 1,250 per tonne to stand at INR 235,750-243,250 per tonne on December 16, after losing the same amount on the preceding day to clock at INR 234,500-242,000 per tonne on December 15.
Vedanta’s aluminium billets price has come in at INR 237,250 per tonne as of December 16, up by INR 1,250 per tonne from INR 236,000 per tonne on December 15.
Vedanta has grown its aluminium ingot and aluminium products prices in response to the LME aluminium benchmark price rise by US$16.50 per tonne from US$2,379.50 per tonne on December 14 to US$2,396 per tonne on December 15.
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 of India's primary aluminium market.
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