Vedanta reduces its aluminium ingot price for the fourth time in a row by INR3000/t w.e.f. April 30

Vedanta Limited continued to reduce its aluminium ingot and aluminium products prices for the fourth time in a row since April 21. With effect from April 30, 2022, Vedanta cut its aluminium ingot price by INR 3,000 per tonne or 1.11 per cent to INR 266,500--302,200 per tonne. A day before, the price stood at INR 269,500-305,200 per tonne, seeing a downfall of INR 2,500 per tonne or 0.9 per cent.

Vedanta’s aluminium wire rod price also experienced a cut of INR 3,000 per tonne to INR 274,000- 281,500 per tonne. On April 29, the price was at INR 277,000- 284,500 per tonne, down by INR 2,500 per tonne from the previous day.

Vedanta’s aluminium billet price came in at INR 274,500 per tonne, with effect from April 30, seeing a cut of INR 3,000 per tonne as well.

The three-month futures of aluminium on the London Metal Exchange declined for the third day in a row by US$26.50 per tonne on April 29, in response to which Vedanta continued to cut its aluminium prices. On a month-on-month calculation, the LME aluminium benchmark price stood US$544 per tonne lower as of April 29.

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.