Vedanta’s aluminium wire rod & billet prices further elevate by INR2000/t with effect from Nov. 16
Vedanta Limited’s aluminium products prices have witnessed further expansion over the past four days ending November 16. The company’s aluminium wire rod price has been grown by INR 2,000 per tonne to INR 234,000-241,500 per tonne, following a significant hike of INR 9,250 per tonne on Saturday, November 12, to INR 232,000-239,500 per tonne.
With the latest hike on November 16, Vedanta’s aluminium billet price has come in at INR 235,500 per tonne, up by INR 2,000 per tonne from INR 233,500 per tonne on November 12. Aluminium ingot price shows no exception but grown by INR 2,000 per tonne as well from INR 224,500-255,500 per tonne to INR 226,500-257,500 per tonne.
Vedanta has escalated its aluminium ingot and aluminium products prices on November 16 in line with an increase of US$18 per tonne in the three-month futures of aluminium on the London Metal Exchange to US$2,410 per tonne as of November 15.
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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