Vedanta’s aluminium wire rod & billet prices build-up by INR2750/t on July 23

Vedanta Limited’s aluminium products and aluminium ingot prices rebounded on Saturday, July 23, following a cut on the previous day. With effect from Saturday, Vedanta’s aluminium wire rod price has increased by INR 2,750 per tonne to come in at INR 234,250-241,750 per tonne. On July 22, the price stood at INR 231,500-239,000 per tonne, after being cut by INR 2,500 per tonne from INR 234,000-241,500 per tonne.

Vedanta’s aluminium billet price also saw an increase on Saturday, July 23, by INR 2,750 per tonne to INR 235,750 per tonne, following a downfall of INR 2,500 per tonne from INR 235,500 per tonne on July 21 to INR 233,000 per tonne on July 22.

With effect from July 23, aluminium ingot price has come in at INR 226,750-258,250 per tonne, up by INR 2,750 per tonne from INR 224,000-255,500 per tonne on July 22.

Vedanta Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which grew by US$32 per tonne on Friday, July 22, following a downfall of US$28.50 per tonne in the previous day.

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.