Vedanta’s aluminium ingot price mounts to INR253,750 – 289,450/t as LME price continues to rally

Vedanta Limited has continued to expand its aluminium ingot and aluminium products prices as the LME aluminium benchmark price records an interrupted growth. With effect from Wednesday, May 18, Vedanta has raised its aluminium ingot price by INR 4,750 per tonne or 1.9 per cent to INR 253,750 – 289,450 per tonne. On the previous day, May 17, the company’s ingot price ranged between INR 249,000 - 284,700 per tonne, seeing a hike of INR 5,750 per tonne.

Vedanta’s aluminium wire rod price has also been grown by INR 4,750 per tonne, with effect from May 18, from INR 256,500 – 264,000 per tonne to INR 261,250 – 268,750 per tonne. Aluminium billet price is no exception but seen a rise by the same amount or 1.84 per cent to become saleable at INR 261,750 per tonne.

Vedanta increased its aluminium prices on May 18 in tandem with the further growth in the LME aluminium benchmark price on Wednesday, May 17, by US$45 per tonne from US$2,791 per tonne to US$2,836 per tonne.

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.