Vedanta Limited announced that it increased its aluminium ingot and aluminium products prices with effect from Tuesday, September 7, bringing its aluminium ingot price to INR 232,750-245,750 per tonne. That was an increase of INR 4,250 per tonne from INR 228,500-241,500 per tonne on September 3.

Vedanta’s aluminium wire rod price also witnessed a hike of INR 4,250 per tonne from INR 236,000-243,500 per tonne on September 3 to INR 240,250-247,750 per tonne on September 7. The company’s aluminium billets price came in at INR 240,750 per tonne compared to INR 236,500 per tonne in the previous week.

Vedanta Limited links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which over the 3-day time surged by US$49.50 per tonne to come in at US$2745.50 per tonne as of September 6. On a month-on-month basis, the price stood up by US$127 per tonne from 2,618.50 per tonne, and on a year-on-year calculation, it was higher by about US$982.50 per tonne than US$ 1,763 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.