Vedanta Limited has further reduced its aluminium ingot and products prices for the second time in a row with effect from Tuesday, January 19. The company is currently selling its aluminium ingot at INR 167,750-180,750 per tonne, down by INR 2,250 per tonne or 1.32 per cent from INR 170,000-183,000 per tonne on January 14. Last time, Vedanta cut its aluminium ingot price by INR 1,750 per tonne or 1.02 per cent.

With the latest cut, Vedanta’s aluminium wire rod price has come in at INR 175,250-182,750 per tonne compared to INR 177,500-185,000 per tonne on January 14. This records a decrease of INR 2,250 per tonne as well.

Vedanta’s aluminium billet price is standing at INR 175,750 per tonne with effect from January 19, as against INR 178,000 per tonne on the previous day.

Vedanta Limited links the prices of its aluminium products and aluminium ingot to the three-month futures of aluminium on the London Metal Exchange, which after January 14 declined below US$2000 per tonne. As of January 18, the price hovered around US$ 1979.50 per tonne, decreasing by US$ 31 per tonne or 1.54 per cent from US$ 2010.50 per tonne on January 14. On a year-on-year calculation, the three-month futures of aluminium on LME are currently up by US$ 183.50 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.