Vedanta continues to increase its aluminium product prices by INR3000/t in line with LME aluminium price rally

Vedanta Limited has continued to expand its aluminium ingot and aluminium product prices in line with the steady growth in the LME aluminium benchmark price. With effect from Friday, July 30, Vedanta's aluminium wire rod price has come in at INR 229,000-236,500 per tonne, up by INR 3,000 per tonne from INR 226,000-233,500 per tonne on July 29.

Vedanta’s aluminium billet price has also witnessed a hike of INR 3,000 per tonne from INR 226,500 per tonne on July 29 to INR 229,500 per tonne on July 30.

As of today, Vedanta is selling its aluminium ingot at INR 221,500-234,500 per tonne compared to INR 218,500-231,500 per tonne on the previous day.

Vedanta limited links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which jumped by US$ 40.50 per tonne on July 29 to stand at US$ 2,556.50 per tonne. On a month-on-month calculation, the price is currently up by US$ 38 per tonne from 2,518.50 per tonne, and on a year-on-year basis by US$ 869.50 per tonne from US$ 1,687 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.