The new aluminium price list of Vedanta shows that the company has reduced its aluminium ingot and aluminium product prices further for the second consecutive day, with effect from Thursday, September 24. With the latest cut, Vedanta’s aluminium ingot price is now ranging between INR 144,250 per tonne and INR 157,250 per tonne, down by INR 2,250 per tonne or 1.5 per cent from INR 146,500-159,500 per tonne on September 18.
This week Vedanta has increased the cut of its aluminium ingot price by INR 250 per tonne from the previous week in line with the continuous downfall in global aluminium price on the London Metal Exchange. Vedanta, like any other Indian aluminium producers, links its aluminium product prices to the three-month futures of aluminium on London Metal Exchange. Since September 18, aluminium price on the London Metal Exchange declined from US$ 1745 per tonne to US$ 1718.50 per tonne. Over the year, aluminium price on the LME is now down by 3.02 per cent.
Vedanta’s aluminium billet price has also been cut by INR 2,250 per tonne from INR 154,500 per tonne to INR 152,250 per tonne, as of September 24. The price of the wire rod is now in the range of INR 151,750-159,250 per tonne compared to INR 154,000-161,500 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.
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