Vedanta’s aluminium ingot price grows for the fourth time in a row by 1.5% w.e.f. May 7

Vedanta Limited has expanded its aluminium ingot and aluminium products prices for the fourth time in a row, with effect from Friday, May 7. The last raise was a week ago, on April 30, by INR 2,250 per tonne. This week, Vedanta’s aluminium ingot price has witnessed an increase of INR 3,250 per tonne or 1.50 per cent to INR 211,250-224,250 per tonne from INR 208,000-221,000 per tonne last week.

Vedanta’s aluminium billets price is currently standing at INR 219,250 per tonne, which has also seen a rise of INR 3,250 per tonne from INR 216,000 tonnes on April 30. The company’s aluminium wire rod price is ranging between INR 218,750-226,250 per tonne compared to INR 215,500-223,000 per tonne in a week ago.

Vedanta links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which grew this week to stand at US$ 2,476.50 per tonne as of May 6. On a month-on-month calculation, the three-month futures of aluminium on LME are currently up by US$ 229.50 per tonne or 10.21 per cent, while on year increased by US$ 1,033.50 per tonne or 71.62 per cent.

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.