Vedanta sharply cuts its aluminium ingot price by INR13000/t w.e.f. April 12 after an intermittent raise

Vedanta Limited again chopped its aluminium ingot and aluminium products prices, with effect from Tuesday, April 12, following an increase on April 9. As per the revised prices revealed, Vedanta is selling its aluminium ingot at INR 281,000-328,500 per tonne, down by INR 13,000 per tonne or 4 per cent from INR 294,000- 341,500 per tonne on April 9.

Vedanta’s aluminium wire rod price also experienced a sharp cut of INR 13,000 per tonne on April 12 from INR 301,500- 309,000 per tonne on April 9 to INR 288,500-296,000 per tonne. Aluminium billet price is now hovering around INR 289,000 per tonne since April 12, also down by INR 13,000 per tonne or 4 per cent from INR 302,000 per tonne.

Vedanta Limited links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange. So, in tandem with the downswing of LME price from US$3,395 per tonne on April 8 to US$3,214.50 per tonne on April 12, Vedanta reduced its aluminium prices. On a month-on-month calculation, the LME aluminium price stood 7.42 per cent or US$257.50 per tonne lower than US$3,472 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.