Vedanta’s aluminium wire rod price builds up INR1500/t in line with LME price rise

Vedanta Limited has expanded its aluminium products and aluminium ingot prices, with effect from Tuesday, June 28, by INR I,500 per tonne or 0.65 per cent. That has brought the company’s aluminium wire rod price to INR 231,000-238,500 per tonne from INR 229,500-237,000 on June 25.

Vedanta’s aluminium billet price has come in at INR 232,500 per tonne, as against INR 231,000 per tonne on the previous day. Aluminium ingot price is standing at INR 223,500-256,500 per tonne versus INR 222,000-255,000 on June 25.

Vedanta Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which built up by US$17 per tonne to stand at US$2,453 per tonne on June 27 from US$2,436 per tonne on June 24.

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.