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15 FEBRUARY 2023 AL CIRCLE

Vedanta reduces its aluminium ingot selling price to INR227,750-258,250/t w.e.f. February 14

EDITED BY : DEBANJALI SENGUPTA 1MINS READ

Vedanta Limited cut its aluminium ingot and aluminium products prices by INR 3,500 per tonne on Tuesday, February 14. That brought the company’s aluminium ingot price to INR 227,750-258,250 per tonne versus INR 231,250-261,750 per tonne on February 7.

Vedanta reduces its aluminium ingot selling price to INR227,750-258,250/t w.e.f. February 14

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With the latest cut, Vedanta’s aluminium wire rod price came in at INR 235,250-242,750 per tonne, also down by INR 3,500 per tonne from INR 238,750-246,250 per tonne last week. The company’s aluminium billet price stood at INR 236,750 per tonne compared to INR 240,250 per tonne on Friday, February 7.

Vedanta reduced its aluminium ingot and aluminium products prices in response to the three-month futures of aluminium on the London Metal Exchange. On Monday, February 13, the LME aluminium benchmark price plunged by US$52.50 per tonne to stand a 5-week low at US$2,382.50 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 of India's primary aluminium market.


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EDITED BY : DEBANJALI SENGUPTA 1MINS READ

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