Vedanta reduces its aluminium wire rod and billet prices by INR2250/t or 1% with effect from July 13

Vedanta Limited has reduced its aluminium products and aluminium ingot prices with effect from Tuesday, July 13, in line with the decline in LME aluminium benchmark price on Monday, July 12. Vedanta’s aluminium wire rod price has come in at INR 220,750- 228,250 per tonne, up by INR 2,250 per tonne or 1 per cent from INR 223,000-230,500 per tonne on July 10.

Vedanta’s aluminium billet price has also seen a cut of INR 2,250 per tonne to INR 221,250 per tonne from INR 223,500 per tonne last week. The price cut with effect from July 13 has brought Vedanta’s aluminium ingot price to INR 213,250-226,250 per tonne from INR 215,500-228,500 per tonne on July 10.

Vedanta links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which on Monday, July 12, fell by US$ 21 per tonne to stand at US$ 2,449 per tonne. On a month-on-month basis, the price is down by about US$ 41 per tonne from 2,490 per tonne but up on a year on year basis by around US$ 784.50 per tonne from US$ 1,664.50 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 in India's primary aluminium market.