Vedanta’s aluminium ingot price experiences a raise of INR4500/t after two consecutive declines

After two consecutive cuts on August 13 and August 16, Vedanta Limited has raised its aluminium ingot and aluminium products prices on Wednesday, August 17. The company’s aluminium ingot price has accumulated INR 4,500 per tonne to hover around INR 224,500-254,000 per tonne versus INR 220,000-249,500 per tonne on August 16.

Vedanta’s aluminium wire rod price has also witnessed an increase of INR 4,500 per tonne to stand at INR 232,000-239,500 per tonne. On August 16, the company's billet price was reduced by INR 6,750 per tonne to INR 227,500-235,000 per tonne. With today’s hike, Vedanta’s aluminium billet price has come in at INR 233,500 per tonne, compared to INR 229,000 per tonne on the previous day.

Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which elevated by US$52.50 per tonne after two consecutive declines to stand at US$2,442 per tonne on August 16.

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.