Vedanta increases its aluminium wire rod price for the fourth time in a row by INR2500/t on June 12

Vedanta Limited increased its aluminium products and aluminium ingot prices for the fourth time in a row with effect from Saturday, June 12. Vedanta’s aluminium wire rod price came in at INR 217,000-224,500 per tonne, up by INR 2,500 per tonne or 1.16 per cent from INR 214,500-222,000 per tonne on Thursday, June 10.

Vedanta's aluminium billet price also saw a rise of INR 2,500 per tonne from INR 215,000 per tonne to INR 217,500 per tonne on June 12.

The company is currently selling its aluminium ingot at INR 209,500-222,500 per tonne compared to INR 207,000-220,000 per tonne on June 10.

Vedanta links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which on Friday, June 11, climbed by US$ 20 per tonne to reach US$ 2,490 per tonne. On a month-on-month calculation, the price stood down by US$ 59.50 per tonne from US$ 2,549.50 per tonne but up on the year by US$ 908 per tonne from US$ 1,582 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.