Vedanta’s aluminium wire rod price sees a hike of INR3750/t or 1.5% on June 7

Vedanta Limited further expanded its aluminium products and aluminium ingot prices, with effect from Tuesday, June 7. The company’s wire rod price saw a hike of INR 3,750 per tonne or 1.5 per cent on Tuesday to come in at INR 253,500-261,000 per tonne. On June 5, Vedanta’s aluminium wire rod price was at INR 249,750-257,250 per tonne.

Vedanta’s aluminium billet price also witnessed an increase of INR 3,750 per tonne on June 7 from INR 251,250 per tonne to INR 255,000 per tonne. Aluminium ingot price was no exception but also gained INR 3,750 per tonne to settle at INR 246,000-281,700 per tonne as of June 7.

Vedanta Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which on June 6 jumped by US$40.50 per tonne or 1.5 per cent from US$2,701.50 per tonne to US$2,742 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.