Vedanta Limited has further decreased its aluminium ingot and aluminium products prices, effective from Wednesday September 28, after the previous cut on September 24. The company’s aluminium ingot price has witnessed a decline of INR 3,000 per tonne to INR 199,750- 229,250 per tonne versus INR 202,750-232,250 per tonne on September 24.
Vedanta’s aluminium wire rod price has also been reduced to INR 207,250- 212,750 per tonne, with effect from September 28, from INR 210,250- 217,750 per tonne on September 24. Aluminium billets price has come in at INR 208,750 per tonne as against INR 211,750 per tonne.
Vedanta links its aluminium prices to the three-month futures of aluminium on the London Metal Exchange, which continued to decline since September 23. After three consecutive days of fall by US$89.50 per tonne, the LME aluminium benchmark price rested at US$2,106 per tonne as of September 27.
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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