Vedanta reduces its aluminium wire rod & billet prices by INR6250/t with effect from October 29
Vedanta Limited’s aluminium products prices saw a cut on Saturday, October 29, soon after they increased by INR 2,000 per tonne on the previous day. As per the last updated price chart, Vedanta’s aluminium wire rod price is standing at INR 220,500-228,000 per tonne since October 29, down by INR 6,250 per tonne or 2.76 per cent from INR 226,750-234,250 per tonne on October 28.
Vedanta’s aluminium billet price came in at INR 222,000 per tonne on October 29 after being slashed by INR 6,250 per tonnes from INR 228,250 per tonne on October 28. The company’s aluminium ingot price is ranging between INR 213,000-243,500 per tonne since October 29, compared to INR 219,250-249,750 per tonne on a day earlier.
Vedanta reduced its aluminium prices on October 29 in response to the downfall of the three-month futures of aluminium on the London Metal Exchange by US$71 per tonne or 3.09 per cent from US$2,297 per tonne to US$2,226 per tonne as of October 28.
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.
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