Vedanta cuts aluminium wire rod & billet prices for the second time in a row by INR6750/t on Aug. 16

Vedanta Limited has reduced its aluminium products and aluminium ingot prices for the second time in a row, with effect from Tuesday, August 16. The company has slashed its aluminium wire rod price by INR 6,750 per tonne to sell the product at INR 227,500-235,000 per tonne. On August 13, Vedanta’s aluminium wire rod price saw a previous cut of INR 2,000 per tonne to INR 234,250- 241,750 per tonne.

On August 16, Vedanta’s aluminium billet price has also experienced a slash of INR 6,750 per tonne to stand at INR 229,000 per tonne versus INR 235,750 per tonne on August 13. Aluminium ingot price is hovering around INR 220,000-249,500 per tonne as of August 16, as against INR 226,750-256,250 per tonne on the previous week.

Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which declined for the two consecutive days on August 12 and August 15 by US$108.50 per tonne to close at US$2,389.50 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.