Vedanta’s aluminium wire rods & billets prices increase for the third time in a row by INR1500/t w.e.f. Nov 13

Vedanta has increased the prices of its aluminium product and aluminium ingot for the third time in a row, with effect from Friday, November 13. The last time Vedanta hiked its aluminium prices was on November 4. This week, the company has raised its aluminium wire rods price by INR 1,500 per tonne or 1 per cent from INR 167,000-174,500 per tonne to INR 168,500-176,000 per tonne.

Aluminium billets price has been increased by INR 1500 per tonne as well from INR 167,500 per tonne on November 4 to INR 169,000 per tonne on November 13.

With the latest hike, Vedanta’s aluminium ingot price has come in at INR 161,000-174,000 per tonne as compared with INR 159,500-172,500 per tonne last week, November 4.

Vedanta links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which since November 4, has grown by US$ 27.5 per tonne or 1.47 per cent to stand at US$ 1904.50 per tonne, as of November 12. LME aluminium three-month futures price is thus currently up by US$ 132.50 per tonne or 7.48 per cent since the beginning of 2020.

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.