Vedanta hikes its aluminium ingot price by INR6500/t with effect from April 20

Vedanta Limited has hiked its aluminium ingot and aluminium products prices on Tuesday, April 20, in response to the LME aluminium price growth. Vedanta has raised its aluminium ingot price by INR 6,500 per tonne or 2.30 per cent to INR 288,750-336,250 per tonne as against the increase of INR 1,250 per tonne to INR 282,250- 329,750 per tonne on April 15.

Vedanta’s aluminium wire rod price has also been grown by INR 6,500 per tonne on April 20 from INR 289750- 297250 per tonne to INR 296,250-303,750 per tonne. Aluminium billet price has experienced no exception but a hike of the same amount to INR 296,750 per tonne. On April 15, Vedanta’s aluminium billet price came in at INR 290,250 per tonne, up by INR 1,250 per tonne from the previous day.

Vedanta Limited links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange. So, in response to the rise in LME aluminium price by US$74.50 per tonne to US$3,312 per tonne on April 19, Vedanta has expanded its aluminium prices.

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.