Vedanta increases its aluminium products prices by more than 2% with effect from June 30

Vedanta Limited has increased its aluminium products and aluminium ingot prices by INR 5,500 per tonne or 2.5 per cent with effect from Wednesday, June 30. With the latest rise, Vedanta’s aluminium wire rod price has come in at 222,750-230,250 per tonne compared to INR 217,250-224,750 per tonne on June 28.

Vedanta at present is selling its aluminium billet at INR 223,250 per tonne as against INR 217,750 per tonne on Monday, June 28. Vedanta’s aluminium ingot price is standing at INR 215,250-228,250 per tonne as of June 30. On June 28, the company’s aluminium ingot selling price was INR 209,750-222,750 per tonne.

Vedanta links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which after June 25 increased by US$ 67.50 per tonne to stand at US$ 2,518.50 per tonne as of June 29. On a month-on-month basis, the price is up by US$ 114 per tonne from 2,404.50 per tonne and on year by about US$ 920.50 per tonne from US$ 1,589 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.

source https://www.alcircle.com/news/vedanta-increases-its-aluminium-products-prices-by-more-than-2-with-effect-from-june-30-67700