Vedanta continues to decrease aluminium ingot price by INR2000/t on Aug. 5 in line with further drop in LME aluminium price

Vedanta Limited has continued to decrease its aluminium ingot and aluminium product prices for the second straight day by INR 2,000 per tonne. With effect from Thursday, August 5, Vedanta’s aluminium ingot price has been reduced to INR 222,500-235,500 per tonne from INR 224,500-237,500 per tonne a day ago.

Vedanta’s aluminium billet price has also seen a cut of INR 2,000 per tonne or 0.86 per cent from INR 232,500 per tonne on August 4 to INR 230,500 per tonne as of August 5.

The company’s aluminium wire rod price has come in at 230,000-237,500 per tonne with effect from August 5, after being cut by INR 2,000 per tonne from INR 232,000-239,500 per tonne.

Vedanta limited links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which further decreased by US$ 20 per tonne on August 4 to US$ 2,575.50 per tonne. However, on a month-on-month calculation, the price is still up by about US$ 36 per tonne from 2,539.50 per tonne, and on a year-on-year basis by US$ 866 per tonne from US$ 1,709.50 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.