Vedanta’s aluminium products prices witness a back-to-back hike of INR1750/t on June 24

Vedanta Limited increased its aluminium ingot and aluminium products prices for the second day in a row with effect from Thursday, June 24. The company raised its aluminium wire rod price by INR 1,750 per tonne to INR 212,750-220,250 per tonne on June 24, followed by a hike of INR 1,500 per tonne from INR 209,500-217,000 per tonne to INR 211,000-218,500 per tonne on June 23.

Vedanta’s aluminium billet price stood at INR 213,250 per tonne on June 24, also up by INR 1,750 per tonne. On June 23, Vedanta’s billet price rose from INR 210,000 per tonne to INR 211,500 per tonne.

Vedanta’s aluminium ingot price also witnessed a rise of INR 1,750 per tonne on Thursday to reach at INR 205,250-218,250 per tonne, followed by a growth of INR 1,500 per tonne from INR 202,000-215,000 per tonne on June 22 to INR 203,500-216,500 per tonne on June 23.

Vedanta links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which after June 22-24 rose by US$ 22 per tonne to stand at US$ 2,397.50 per tonne. On a month-on-month calculation, the price is currently up by US$ 92.50 per tonne from US$ 2,305 per tonne and on the year by US$ 833.50 per tonne from US$ 1,564 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.