Vedanta’s aluminium ingot price sees a hike of INR9250/t with effect from November 12
Vedanta Limited hiked its aluminium ingot and aluminium products prices, with effect from Saturday, November 12, after a cut by INR 6,250 per tonne on the previous day. On November 12, Vedanta’s aluminium ingot price saw an expansion of INR 9,250 per tonne from INR 215,250-246,250 per tonne to INR 224,500-255,500 per tonne.
Vedanta’s aluminium wire rod price was also elevated by INR 9,250 per tonne, with effect from November 12, to sell the production at INR 232,000-239,500 per tonne. On November 11, the wire rod price stood at INR 222,750-230,250, slashed by INR 6,250 per tonne from the earlier day. The company’s aluminium billet price came in at INR 233,500 per tonne on November 12, experiencing an elevation of INR 9,250 per tonne from November 11.
Vedanta lifted its aluminium prices on November 12 in line with a surge in the three-month futures of aluminium on the London Metal Exchange by US$138 per tonne or 6.07 per cent from US$2,272 per tonne on November 10 to US$2,410 per tonne on November 11.
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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