Vedanta heightens its aluminium ingot price by INR2750/t or 1% with effect from May 31

Vedanta Limited expanded its aluminium ingot and aluminium products prices, with effect from Tuesday, May 31, following a cut last week on May 26. The company heightened its aluminium ingot price by INR 2,750 per tonne or 1 per cent to the range of INR 255,500 – 291,200 per tonne versus INR 252,750- 288,450 per tonne on May 26.

Vedanta’s aluminium billets price came in at INR 263,500 per tonne, 260750 on May 31, experiencing an increase of INR 2,750 per tonne from INR 260,750 per tonne. Aluminium wire rod price also witnessed a rise by the same amount to stand at INR 263,000 – 270,500 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 during May 26-30 trended up by US$37.50 per tonne or 1.33 per cent to settle at US$2,863 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.