Vedanta further cuts its aluminium products prices by INR1750/t with effect from November 25

Vedanta Limited further curtailed its aluminium products and aluminium ingot prices for the second day in a row, with effect from Friday, November 25. Vedanta cut its aluminium wire rod price by INR 1,750 per tonne to sell the product at INR 229,250-236,750 per tonne versus INR 231,000-238,500 per tonne on November 24.

The cut on November 25 brought the company’s aluminium billet price to INR 230,750 per tonne compared to INR 231,000-238,500 per tonne on November 24. Vedanta’s aluminium ingot price also saw a trim of INR 1,750 per tonne on November 25 to stand at INR 221,750-252,750 per tonne from INR 223,500-254,500 per tonne the previous day.

Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metals Exchange, which further dropped by US$20 per tonne on November 24 from INR 2,364 per tonne to US$2,344 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.