Vedanta expands its aluminium ingot price by 2% with effect from August 24

Vedanta Limited has expanded its aluminium ingot and aluminium products prices for the two back-to-back days, with effect from Wednesday, August 24. The company has increased its aluminium ingot price by INR 4,500 per tonne or 2 per cent to INR 224,750- 254,250 per tonne. On the previous day, the price stood at INR 220,250- 249,750 per tonne, seeing a rise of INR 1,250 per tonne.

Vedanta’s aluminium wire rod price has also experienced a hike of INR 4,500 per tonne on August 24 to stand at INR 232,250- 239,750 per tonne versus INR 227,750-235,250 per tonne on August 23. The latest rise has brought the company’s aluminium billets price to INR 233,750 per tonne, up INR 4,500 per tonne from the earlier day.

Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which rose for the second day in a row by US$51 per tonne to stand at US$2,438.50 per tonne on Tuesday, August 23.

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.