Vedanta cuts its aluminium ingot selling price by nearly 1% with effect from April 29

Vedanta Limited has further reduced its aluminium ingot and products prices, with effect from Friday, April 29, in line with back-to-back LME aluminium price drop. Vedanta has cut its aluminium ingot price by INR 2,500 per tonne or 0.9 per cent to INR 269,500-305,200 per tonne on April 29, while the price on April 26 was at INR 272,000-307,700 per tonne, seeing a steep fall of INR 11,250 per tonne.

Vedanta’s aluminium products prices have also seen a cut of INR 2,500 per tonne, which brought the company’s aluminium wire rod price to INR 277,000- 284,500 per tonne on April 29 versus INR 279,500- 287,000 per tonne on April 26. Vedanta’s aluminium billet price has come in at INR 277,500 per tonne compared to INR 280,000 per tonne.

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 two consecutive days of decline in the LME aluminium benchmark price by US$37.50 per tonne to US$3,065.50 per tonne as of April 28, 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.