Vedanta curtails its aluminium wire rod price by INR2000/t with effect from November 8
Vedanta Limited has curtailed its aluminium products and aluminium ingot prices by INR 2,000 per tonne or 1 per cent, with effect from Tuesday, November 8. With the latest cut, the company’s aluminium wire rod price has come in at INR 225,750-233,250 per tonne versus INR 227,750- 235,250 per tonne on November 5.
Vedanta’s aluminium billet price is hovering around INR 227,250 per tonne, effective from November 8, compared to INR 229,250 per tonne. Aluminium ingot price has pegged at INR 218,250-249,250 per tonne, also down by INR 2,000 per tonne from INR 220,250- 251,250 per tonne.
Vedanta has cut its aluminium ingot and aluminium products prices in response to the decline of US$14 per tonne in the three-month futures of aluminium on the London Metal Exchange from US$2,306 per tonne on November 4 to US$2,292 per tonne on November 7.
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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