Vedanta further reduces its aluminium ingot price by INR6250/t with effect from September 2

Vedanta Limited further reduced its aluminium ingot and aluminium products prices on September 2, in line with the continued downfall of the global aluminium price on LME. As per the revised price list shared by the company, Vedanta cut its aluminium ingot price by INR 6,250 per tonne to INR 212,000-241,500 per tonne.

Vedanta’s aluminium wire rod price also saw an increase of INR 6,250 per tonne from INR 225,750-233,250 per tonne on September 1 to INR 219,500-227,000 per tonne on September 2. Aluminium billet price also experienced a back-to-back slash on September 2 to come in at INR 221,000 per tonne.

Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which slid by US$62.50 per tonne or 2.64 per cent on September 1, arriving at US$2,306 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.