Vedanta’s aluminium ingot price gains INR1250/t on August 23 after two cuts in a row

After the two consecutive cuts, Vedanta’s aluminium ingot and products prices have seen a slight rise on Tuesday, August 23. The company has increased its aluminium ingot price by INR 1,250 per tonne to INR 220,250-249,750 per tonne, following a reduction of INR 2,500 per tonne on August 20 to INR 219,000-248,500 per tonne.

Vedanta’s aluminium billet price has also seen a rise of INR 1,250 per tonne, resulting in INR 229,250 per tonne as of August 23. On Saturday, August 20, the price was cut by INR 2,500 per tonne from INR 230,500 per tonne to INR 228,000 per tonne.

Vedanta’s aluminium wire rod price has come in at INR 227,750-235,250 per tonne on August 23 versus INR 226,500-234,000 per tonne on August 20. This reflects no exception but also an increase of INR 1,250 per tonne.

Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which after three back-to-back declines, built up by US$11.50 per tonne to rest at US$2,387.50 per tonne on August 22.

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.