Vedanta’s aluminium wire rod and billets prices see a hike of INR2250/t with effect from September 3
Vedanta Limited increased its aluminium products prices by INR 2,250 per tonne or 1 per cent with effect from Friday, September 3, bringing aluminium wire rod price to INR 236,000-243,500 per tonne from INR 233,750-241,250 per tonne on September 2.
Since the last hike, the company’s aluminium billets price came in at INR 236,500 per tonne, compared to INR 234,250 per tonne on September 2.
Vedanta’s aluminium ingot price also saw a raise of INR 2,250 per tonne with effect from September 3 from INR 226,250-239,250 per tonne on September 2 to INR 228,500-241,500 per tonne on September 3.
Vedanta Limited links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which after September 1 grew by US$28.50 per tonne to stand at US$2,696 per tonne as of September 3. On a month-on-month basis, the price is up by US$100.50 per tonne from 2,595.50 per tonne, and on a year-on-year calculation, it is higher by US$953 per tonne than US$ 1,743 per tonne.
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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