Vedanta back-to-back raises its aluminium ingot price on February 5 & 6 in line with 3-month aluminium futures surge on LME

Vedanta Limited increased its aluminium ingot and aluminium products prices back-to-back on February 5 and 6, in line with LME aluminium price hike. On February 5, the company raised its aluminium ingot price by INR 1,500 per tonne from INR 165,500-178,500 per tonne to INR 167,000-180,000 per tonne. The next day, on February 6, the price rose further by INR 2,250 per tonne to come in at INR 169,250-182,250 per tonne.

Aluminium wire rod price also gained INR 1,500 per tonne on Friday, February 5, to come in at INR 174,500-182,000 per tonne compared to INR 173,000-180,500 per tonne on February 3. On February 6, the price clocked at INR 176,750-184,250 per tonne, registering an increase of INR 2,250 per tonne from the previous day.

Vedanta’s aluminium billets price on February 5 stood at INR 175,000 tonne, up by INR 1,500 per tonne from INR 173,500 per tonne on February 3. On February 6, the price further increased by INR 2,250 per tonne to come in at INR 177,250 per tonne.

Vedanta Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which after February 3 rose to US$ 2007.50 per tonne, as of Friday, February 5. Currently, on a year-on-year basis, three-month futures of aluminium on the London Metal Exchange are up by US$ 309.50 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.