Vedanta further raises aluminium ingot price by INR2,250/t in response to LME aluminium price hike over the weekend

Vedanta Limited has expanded its aluminium ingot and aluminium products prices for the second consecutive time, with effect from Tuesday, January 26. The company has raised its aluminium ingot price to INR 169,500-182,500 per tonne from INR 167,250-180,250 per tonne on January 21. This records an increase of INR 2,250 per tonne over the last four days.

Vedanta’s aluminium wire rod price is hovering around INR 177,000-184,500 per tonne, as of January 26, growing by INR 2,250 per tonne as well from INR 174,750-182,250 per tonne.

With the latest hike, Vedanta’s aluminium billets price has come in at INR 177,500 per tonne compared with INR 175,250 per tonne on January 21.

Vedanta Limited links the prices of its aluminium products and aluminium ingot to the three-month futures of aluminium on the London Metal Exchange, which after January 21 increased to US$ 2011.50 per tonne from US$ 1992.50 per tonne. On a year-on-year calculation, the three-month futures of aluminium on LME are currently up by about US$ 236 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.