Vedanta’s aluminium prices build-up INR7,250/t in line with highest ever jump in LME aluminium price

Vedanta Limited has raised its aluminium ingot and aluminium products prices significantly with effect from Friday, February 26, following an intervening cut on February 24. The increase in Vedanta’s aluminium prices is in line with the highest ever surge of US$ 77.50 per tonne in the LME aluminium price on Thursday, February 25.

With the latest hike, Vedanta’s aluminium ingot price has come in at INR 185,250 – 198,250 per tonne as of February 26, up by INR 7,250 per tonne from INR 178,000 – 191,000 per tonne on February 24.

The company’s aluminium wire rod price has also witnessed a raise of INR 7,250 per tonne from INR 185,500 – 193,000 per tonne on February 24 to INR 192,750 – 200,250 per tonne on February 26. Vedanta’s aluminium billet price is currently hovering at 193,250 per tonne compared with INR 186,000 per tonne two days ago.

Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which are currently up by US$ 538 per tonne or 31.93 per cent year-on-year.

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.

source https://www.alcircle.com/news/vedantas-aluminium-prices-build-up-inr7-250-t-in-line-with-highest-ever-jump-in-lme-aluminium-price-62617