Vedanta curtails its aluminium wire rod & billet prices by 2% with effect from December 13

Vedanta Industries Limited has curtailed its aluminium products and aluminium ingot prices by 2.2 per cent or INR 5,500 per tonne, with effect from December 13, bringing the aluminium wire rod price to INR 235,750- 243,250 per tonne. Prior to this, the last revision of price was on December 6 when Vedanta’s aluminium wire rod price came in at INR 241,250-248,750 per tonne versus INR 236,750-244,250 per tonne on December 3.

The latest price cut has brought the company’s aluminium billet price to INR 237,250 per tonne per tonne, compared to INR 242,750 per tonne last week. Vedanta’s aluminium ingot price currently stands at INR 228,250- 259,250 per tonne, also down by INR 5,500 per tonne from INR 233,750- 264,750 per tonne a week ago.

Vedanta has reduced its aluminium prices on December 13 in response to the downturn of the three-month futures of aluminium on the London Metal Exchange. During December 6-12, the LME aluminium benchmark price has dwindled by US$71 per tonne or 2.89 per cent from US$2,461 per tonne to US$2,390 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 of India's primary aluminium market.