Vedanta’s aluminium ingot price again increases by INR1500/t with effect from October 13

Vedanta Limited has continued to increase its aluminium ingot and aluminium product prices pursuant to the incessant surge in global aluminium benchmark price on the London Metals Exchange. With effect from Tuesday, October 13, Vedanta has hiked its aluminium ingot price again by INR 1,500 per tonne from INR 150,500 - 163,500 per tonne to INR 152,000-165,000 per tonne.

Vedanta’s aluminium billet price has come in at INR 160,000 per tonne, also up by INR 1,500 per tonne from INR 158,500 per tonne on October 10. After the surge, the company’s aluminium wire rod price is hovering at INR 159,500-167,000 per tonne versus INR 158,000 – 165,500 per tonne on October 10.

Like any other Indian aluminium producers, Vedanta Limited generally links prices of its aluminium products to the three-month futures of aluminium on the London Metal Exchange, which has surged over the weekend by US$ 24 per tonne to stand at US$ 1829.50 per tonne. So far, over the year, the global aluminium benchmark price on the LME is standing higher by US$ 57.50 per tonne, as of October 12, 2020.

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.