Vedanta uplifts aluminium ingot price to INR226,000-257,500/t in line with LME aluminium price hike

Vedanta Limited has lifted its aluminium ingot and aluminium products prices, with effect from Friday, July 29, following a cut on the previous day, July 28. On Friday, Vedanta’s aluminium ingot price has come in at INR 226,000-257,500 per tonne, up by INR 5,250 per tonne or 2.38 per cent from the previous day. On July 28, the price stood at 220,750-252,250 per tonne, reflecting a slash of INR 3,250 per tonne.

Vedanta’s aluminium wire rod price has also been raised by INR 5,250 per tonne on July 29 from INR 228,250-235,750 per tonne to INR 233,500- 241,000 per tonne. Similar to the ingot price, Vedanta’s aluminium wire rod price on July 28 saw a cut of INR 3,250 per tonne.

The company is currently selling its aluminium billets at INR 235,000 per tonne, with effect from July 29, compared with INR 229,750 per tonne on July 28.

Vedanta Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which jumped by US$67.50 per tonne or 2.82 per cent on Thursday, July 28, to come in at US$2,458 per tonne, after a fall of 1.91 per cent on the previous day.

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.