Vedanta’s aluminium products prices grow back-to-back by INR1250/t with effect from March 4

Vedanta Limited has increased its aluminium products and aluminium ingot prices for the second day in a row, with effect from Thursday, March 4. The price of Vedanta's aluminium wire rod has been raised by INR 1,250 per tonne to INR 192,500 – 200,000 per tonne, in comparison with INR 191,250 – 198,750 per tonne on March 3.

Vedanta has also expanded its aluminium billets price by INR 1,250 per tonne from INR 191,750 per tonne on March 3 to INR 193,000 per tonne on March 4.

The company’s aluminium ingot price is ranging between INR 185,000 – 198,000 per tonne as of March 4, growing by INR 1,250 per tonne as well from INR 183,750 – 196,750 per tonne on the previous day.

Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which increased from US$ 2176 per tonne on March 2 to US$ 2203 per tonne on March 3. On a year-on-year basis, three-month futures of aluminium on the London Metal Exchange are currently up by US$ 497 per tonne or 29.13 per cent.

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.