Vedanta Limited expands its aluminium wire rod and billets prices by 2% with effect from February 19

Vedanta Limited has continued to increase its aluminium products and aluminium ingot prices with effect from Friday, February 19. The company’s aluminium wire rod price has come in at INR 187,250 – 194,750 per tonne, up significantly by INR 3,750 per tonne or 2.04 per cent from INR 183,500—191,000 per tonne on February 18.

Vedanta’s aluminium billets price has also been raised by INR 3,750 per tonne from INR 184,000 per tonne on February 18 to INR 187,750 per tonne on February 19.

With the latest hike, aluminium ingot price has come in at INR 179,750 – 192,750 per tonne in comparison with INR 176,000-189,000 per tonne on the previous day.

The Indian aluminium producers generally link aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which on February 18 increased to US$ 2147 per tonne from US$ 2096.50 per tonne on February 17. The price is thus currently up by US$ 466 per tonne year-on-year.

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.