Vedanta Limited lifted its aluminium products and aluminium ingot prices by INR 4,500 per tonne on Saturday, January 14. That brought the company’s aluminium wire rod price to INR 243,000-250,500 per tonne versus INR 238,500-246,000 per tonne on January 12.
With the latest hike, Vedanta’s aluminium billet price mounted to INR 244,500 per tonne, compared with INR 240,000 per tonne two days earlier. Vedanta’s aluminium ingot price ranged between INR 235,500- 266,000 per tonne, 2 per cent more than INR 231,000- 261,500 per tonne.
Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which grew by US$64 per tonne or 2.62 per cent from US$2,447 per tonne to US$2,511 per tonne on January 12.
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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