Vedanta Limited has lifted its aluminium ingot and aluminium products prices by INR 7,750 per tonne, with effect from Tuesday, January 10. That has brought the company’s aluminium ingot price to INR 222,750-253,250 per tonne versus INR 215,000-245,500 per tonne on January 7.
Vedanta’s aluminium wire rod price has come in at INR 230,250-237,750 per tonne, with the latest raise, compared to INR 222,500-230,000 per tonne last week. Aluminium billet price has mounted to INR 231,750 per tonne from INR 224,000 per tonne on January 7.
Vedanta has increased its aluminium ingot and aluminium products prices in response to the hike of the three-month futures of aluminium on the London Metal Exchange. On January 9, the LME aluminium benchmark price surged by US$94 per tonne to settle at US$2,336.50 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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