Vedanta increases aluminium ingot price by 1% w.e.f from July 24 in line with the uptrend in LME aluminium price

Vedanta Limited has increased its aluminium ingot and aluminium product prices with effect from Friday, July 24, following a cut last week on July 17. With the latest hike, the company’s aluminium ingot price is now ranging between INR 141,750 per tonne and INR 154,750 per tonne, up INR 1,750 per tonne or 1.25 per cent from INR 140,000-153,000 per tonne on July 17.

Vedanta’s aluminium billet price has come in at INR 149,750 per tonne with effect from today, July 24, higher by also INR 1,750 per tonne or 1.18 per cent from INR 148,000 per tonne. The company, after the increase today, is selling its aluminium wire rod at INR 149,250-156,750 per tonne compared to INR 147,500-155,000 per tonne on July 17.

The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on the London Metal Exchange, which in the last one week during July 20-23 recorded back-to-back rises from US$ 1621 per tonne to US$ 1661 per tonne. So, the overall decline in the three-month futures price of aluminium on LME has come down to 6.26 per cent so far this year.

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.

Recently, the company launched an innovative Monsoon Preparedness Center (MPC) in its aluminium smelters and power plants. The plants are equipped with required gear and apparatus to bolster emergency planning and rescue preparedness.

The Center MPC will monitor data from across the length and breadth of the plant for rapid action in emergency scenarios, particularly during unpredictable monsoons.

CN Singh, CEO – Vedanta Ltd, Jharsuguda, said, “As India’s largest aluminium producer, we have put in place robust processes and global best practices in Health, Safety, Environment & Sustainability aimed at making our workspaces safe for employees and partners. While we produce top-class value-added aluminium products to cater to the country’s critical sectors and boost its self-reliance, we are also constantly innovating our processes to realize our vision of becoming a Zero Harm, Zero Waste and Zero Discharge operation.”