Vedanta Limited cuts aluminium ingot price by 1% with effect from January 14

Vedanta Limited again decreased its aluminium ingot and aluminium product prices on January 14 after increasing them on the previous day. With effect from Thursday, January 14, Vedanta slashed its aluminium ingot price by INR 1,750 per tonne or 1.02 per cent from INR 171,750-184,750 per tonne to INR 170,000-183,000 per tonne.

With the latest price cut, Vedanta’s aluminium wire rod price has come in at INR 177,500-185,000 per tonne compared to INR 179,250-186,750 per tonne on January 13. This records a decrease of INR 1,750 per tonne as well.

Vedanta’s aluminium billet price is standing at INR 178,000 per tonne with effect from January 14 as against INR 179,750 per tonne on January 13.

Vedanta Limited links the prices of its aluminium products and aluminium ingot to the three-month futures of aluminium on the London Metal Exchange, which on January 13 decreased to US$2009.50 from US$ 2025.50 per tonne on January 13 and rose marginally to US$ 2010.50 per tonne on January 14. On a year-on-year calculation, the three-month futures of aluminium on LME are up by 243 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.