Vedanta’s aluminium ingot price grows by INR 2,250/t on April 30

Vedanta has reported a growth in its aluminium products by INR 2,250 per tonne. With effect from Friday, 30 April 2021, the prices of some aluminium ingots have increased by more than 1% to stand at INR 208,000-221,000 per tonne from INR 205,750-218,750 per tonne on April 23.

The company’s billets price stands at INR 216,000 per tonne on Friday, 30 April 2021, representing a hike of INR 2,250 per tonne or 1.05% from INR 213,750 per tonne on April 23.

The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price on stood at US$ 2,432 per tonne on Thursday, April 29, a growth of 66.52 per cent from US$ 1460.50 per tonne last year.

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.