Vedanta’s aluminium ingot price rises significantly by INR4,750/t with effect from November 3
Vedanta’s aluminium ingot and aluminium product prices have been raised significantly with effect from November 3, following back-to-back declines on October 28 and 30. The company has grown its aluminium ingot price by INR 4,750 per tonne or 3.16 per cent on November 3 from INR 150,250-163,250 per tonne on October 30 to INR 155,000-168,000 per tonne.
Post the latest hike, Vedanta is now selling its aluminium wire rod at INR 162,500-170,000 per tonne versus INR 157,750-165,250 per tonne on October 30. This marks a growth of INR 4,750 per tonne as well.
Vedanta’s aluminium billet price has come in at INR 163,000 per tonne, growing by 3 per cent from INR 158,250 per tonne on October 30.
Vedanta links its aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which in the last two days rose from US$ 1786 per tonne to US$ 1834.50 per tonne. With this hike, the LME aluminium price grows by US$ 62.50 per tonne or 3.53 per cent over the year so far.
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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