Vedanta’s aluminium ingot price gains INR2000/t with effect from Saturday, May 14

Vedanta Limited has increased its aluminium ingot and aluminium products prices, with effect from Saturday, May 14, as the LME aluminium benchmark price regained by US$35 per tonne on Friday, May 13. On Thursday, Vedanta’s aluminium prices were slashed by INR 3,000 per tonne in response to the LME price fall by US$49 per tonne on the previous day.

The company’s aluminium ingot price has witnessed a growth of INR 2,000 per tonne from INR 241,250-276,950 per tonne to INR 243,250-278,950 per tonne as of May 14.

Vedanta’s aluminium wire rod price has also been raised by INR 2,000 per tonne, with effect from May 14, to stand at INR 250,750-258,250 per tonne versus INR 248,750-256,250 per tonne on May 13. Vedanta’s aluminium billet price has come in at INR 251,250 per tonne, seeing the same amount of downfall from INR 249,250 per tonne.

The LME aluminium benchmark price has grown this week ended May 13 by US$15 per tonne to close at US$2,723 per tonne but stands down month-on-month by US$484 per tonne from US$3,207 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.