Vedanta’s aluminium ingot price sees a rise of INR1500/t with effect from June 9

Vedanta Limited has expanded its aluminium ingot and aluminium products prices for the second time in a row since the last cut on June 4. With effect from Wednesday, June 9, Vedanta has increased its aluminium ingot price by INR 1,500 per tonne to INR 205,000-218,000 per tonne.

The company is currently selling its aluminium wire rod at INR 212,500-220,000 per tonne, up by INR 1,500 per tonne or 0.70 per cent from INR 211,000=218,500 per tonne on June 5. Aluminium billet price has also been raised by INR 1,500 per tonne from INR 211,500 per tonne on June 5 to INR 213,000 per tonne on June 9.

Vedanta links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which after June 4, climbed 0.21 per cent to stand at US$ 2,417.50 per tonne on June 7 and further expanded by 0.89 per cent to settle at US$ 2,439 per tonne on June 8. On a month-on-month calculation, the price stood down by US$ 79.50 per tonne but up by US$ 869.50 per tonne on the 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.