Vedanta’s aluminium wire rod & billet prices escalate by INR2750/t with effect from May 24

Vedanta Limited continued to increase its aluminium products and aluminium ingot prices by INR 2,750 per tonne or 1 per cent, marking the fifth consecutive hike. With effect from Tuesday, May 24, Vedanta’s aluminium wire rod price grew to INR 271,750 – 279,250 per tonne from INR 269,000 – 276,500 per tonne on May 21.

Vedanta’s aluminium billet price mounted to INR 272,250 per tonne versus INR 269,500 per tonne on May 21. Aluminium ingot price ranged between INR 264,250 – 299,950 per tonne compared to INR 261,500 – 297,200 per tonne on the previous day.

Vedanta Limited increased its aluminium prices on May 24 as the LME aluminium benchmark price rallied further for the second day in a row on Monday, May 23, by US$32 per tonne from US$2,931 per tonne to US$2,963 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.