Vedanta Limited expanded its aluminium products prices by INR 6,250 per tonne on Saturday, September 11, bringing its aluminium wire rod price to INR 254,250-261,750 per tonne, in comparison with INR 248,500-255,500 on Friday, September 10.
As per Vedanta’s report, its aluminium billet price grew from INR 248,500 per tonne on September 10 to INR 254,750 per tonne on September 11.
Vedanta’s aluminium ingot price also saw an increase of INR 6,250 per tonne on September 11 from INR 240,500-253,500 per tonne to INR 246,750-259,750 per tonne.
Vedanta Limited links its aluminium products and aluminium ingot prices to the three month futures of aluminium on the London Metal Exchange, which during September 10 was recorded to be US$2896.5 per tonne. On a month-on-month calculation, the price is up by US$317.5 per tonne, and on a year-on year basis, it is higher by US$1153 per tonne than the US$1,743.50 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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