Vedanta’s aluminium ingot price sees a further rise of INR1750/t with effect from June 15

Vedanta Limited has further increased its aluminium ingot and aluminium products prices for the fifth time in a row, with effect from Tuesday, June 15. Vedanta’s aluminium ingot price has been raised by INR 1,750 per tonne or 0.80 per cent to INR 211,250-224,250 per tonne as of June 15. On Saturday, June 12, Vedanta’s aluminium ingot price was at INR 209,500-222,500 per tonne, climbing by INR 2,500 per tonne from June 10.

With the latest hike, Vedanta’s aluminium wire rod price has come in at INR 218,750-226,250 per tonne, also up by INR 1,750 per tonne from INR 217,000-224,500 per tonne on June 12.

Vedanta is selling its aluminium billet at INR 219,250 per tonne with effect from June 15 compared to INR 217,500 per tonne on June 12.

Vedanta links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which on Monday, June 14, further rose by US$ 14 per tonne to reach at US$ 2,504 per tonne. On a month-on-month calculation, the price is up by US$ 66 per tonne from US$ 2,438 per tonne and on the year by about US$ 958 per tonne from US$ 1,546 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.