Vedanta cuts its aluminium products prices by over 3%, aluminium billet price pegs at INR202750/t

Vedanta Limited has reduced its aluminium products and aluminium ingot prices for the second time in a row, with effect from Tuesday, May 25. The company has cut its aluminium billet price by INR 7,750 per tonne or 3.68 per cent to INR 202,750 per tonne. Last week on May 20, Vedanta’s aluminium billet price stood at INR 210,500 per tonne, decreasing by INR 5,500 per tonne from a day ago.

With the latest cut today, Vedanta’s aluminium wire rod price has come in at INR 202,250-209,750 per tonne compared to INR 210,000-217,500 per tonne on May 20.

The company is now selling its aluminium ingot price at INR 194,750-207,750 per tonne, also down by INR 7,750 per tonne from INR 202,500-215,500 per tonne last week.

Vedanta links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which on May 21 rose 0.46 per cent to US$ 2,403 per tonne but nosedived the next day by US$ 98 per tonne to US$ 2,305 per tonne. On a month-on-month calculation, the price is currently down by about 3.48 per cent but up by around 55 per cent over the 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.