Vedanta’s aluminium ingot price grows for the fifth time in a row to INR176,000-189,000/t on February 18

Vedanta Limited has further increased its aluminium ingot and aluminium products prices for the fifth consecutive time, with effect from Thursday, February 18. With the latest hike, Vedanta’s aluminium ingot price has come in at INR 176,000-189,000 per tonne, up by INR 2,000 per tonne or 1.15 per cent from INR 174,000 – 187,000 per tonne a week ago.

Vedanta’s aluminium wire rod price is currently hovering around INR 183,500—191,000 per tonne compared to INR 181,500-189,000 per tonne on February 11. The company's aluminium billets price has also been raised by INR 2,000 per tonne from INR 182,000 per tonne on February 11 to INR 184,000 per tonne on February 18.

The Indian aluminium producers generally link aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which after February 11 increased to reach at US$ 2096.50 per tonne, as of Wednesday, February 17. The price is thus currently up by US$ 415 per tonne year-on-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.