Vedanta Limited has lifted its aluminium products prices and aluminium ingot prices for the second day in a row, bringing its aluminium wire rod price to INR 239,500-247,000 per tonne. That was an increase of INR 3,500 per tonne from the previous day. On February 21, Vedanta’s aluminium wire rod price stood at INR 236,000-243,500 per tonne, up by INR 4,750 per tonne from INR 231,250-238,750 on February 17.
Vedanta’s aluminium billet price has also seen an increase of INR 3,500 per tonne on February 22 to stand at INR 241,000 per tonne, following a hike of INR 4,750 per tonne from INR 232,750 per tonne to INR 237,500 per tonne.
Aluminium ingot price has also been elevated by INR 3,500 per tonne on February 22 to INR 232,000-262,500 per tonne. On February 21, the price stood at INR 228,500-259,000 per tonne, up by INR 4,750 per tonne from the earlier price.
Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the Londom Metal Exchange, which surged back-to-back on February 21 and February 22 from US$2,335 per tonne to US$2,430.50 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 of India's primary aluminium market.
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