Vedanta continues to reduce aluminium wire rod & billet prices by INR11250/t with effect from April 26
Vedanta Limited has continued to cut its aluminium products and aluminium ingot prices, with effect from Tuesday, April 26. The company has reduced its aluminium wire rod price significantly by INR 11,250 per tonne or 3.8 per cent to INR 279,500- 287,000 per tonne. The last cut on April 21 brought the price to INR 290,750-298,250 per tonne, down by INR 5,500 per tonne from the previous day.
With effect from April 26, Vedanta’s aluminium billet price has come in at INR 280,000 per tonne versus INR 291,250 per tonne on April 21. That was a decline of INR 11,250 per tonne as well.
As per the price list revealed, the company is selling its aluminium ingot price at INR 272,000-307,700 per tonne, in comparison with INR 283,250-330,750 per tonne on April 21.
Vedanta Limited links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange. So, in response to the decline in LME aluminium price by US$154 per tonne to US$3,090 per tonne as of April 26, Vedanta has reduced its aluminium prices.
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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