Vedanta Limited hiked its aluminium wire rod and billet prices, effective from Thursday, October 27, following a slash of INR 6,000 per tonne on October 22. The company’s aluminium wire rod price witnessed a gain of INR 9,500 per tonne on October 27 to come in at INR 224,750-232,250 per tonne versus INR 215,250- 222,750 per tonne last week.
Vedanta’s aluminium billet price has clocked in at INR 226,250 per tonne, up by INR 9,500 per tonne or 4.38 per cent from INR 216,750 per tonne on October 22. Aluminium ingot price has also been raised by INR 9,500 per tonne by Vedanta, with effect from October 27, to sell the item at INR 217,250-247,750 per tonne.
Vedanta links its aluminium prices to the three-month futures of aluminium on the London Metal Exchange, which surged by US$110 per tonne during October 21-26 to stand at US$2,265.50 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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