Vedanta’s aluminium ingot price grows sequentially to reach INR210500-240000/t on Sept. 10

Vedanta Limited back-to-back increased its aluminium ingot and aluminium products prices, with effect from Saturday, September 10. The company expanded its aluminium ingot price by INR 2,000 per tonne or 1 per cent to INR 210,500-240,000 per tonne. On September 9, the price stood at INR 208,500-238,000 per tonne, seeing a growth of INR 1,500 per tonne from September 8.

Vedanta’s aluminium billets price also saw an increase of INR 2,000 per tonne on September 10 to INR 219,500 per tonne, following a rise of INR 1,500 per tonne on the previous day to INR 217,000 per tonne.

With the latest rise, the company’s aluminium wire rod price came in at INR 218,000-225,500 per tonne, also up by INR 2,000 per tonne from INR 216,000-223,500 per tonne.

Vedanta back-to-back expanded its aluminium ingot and aluminium products prices, in line with the two consecutive days of hike in the three-month futures of aluminium on the London Metal Exchange by US$49.50 per tonne. From US$2,230.50 per tonne on September 7, the LME aluminium benchmark price grew to US$2,280 per tonne on September 9.

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.