Vedanta Limited has raised its aluminium products prices by INR 2,500 per tonne with effect from Tuesday, April 20. The company’s aluminium wire rod price has come in at INR 209,500-217,000 per tonne compared to INR 207,000-214,500 per tonne on April 17, while the price of Vedanta’s aluminium billets is hovering around INR 210,000 per tonne in comparison with INR 207,500 per tonne. Thus, both the prices, as of April 20, have reflected a hike of INR 2,500 per tonne or 1 per cent.
Vedanta’s aluminium ingot price has also been expanded by INR 2,500 per tonne from INR 199,500-212,500 per tonne on April 17 to INR 202,000-215,000 per tonne on April 20.
Vedanta links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which on Monday, April 19, rebounded at US$ 2,331 per tonne from US$ 2,308.50 per tonne on April 16. On a year-on-year calculation, the three-month futures of aluminium on LME are therefore currently up by US$ 879.50 per tonne or 60.6 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.
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