
Vedanta Limited has slashed its aluminium products and aluminium ingot prices after a week since it increased the prices by INR 4,000 per tonne on July 3. The company has decreased its aluminium wire rod and aluminium billet prices sharply by INR 7,000 per tonne or 3 per cent with effect from Friday, July 9, in line with the ongoing downtrend of the LME aluminium benchmark price since July 2.

The cut today has brought Vedanta’s aluminium wire rod price at INR 220,250-227,750 per tonne from INR 227,250-234,750 per tonne on July 3. Vedanta’s aluminium billet price has come in at INR 220,750 per tonne against INR 227,750 per tonne last day.
Vedanta’s aluminium ingot price has also seen a cut of INR 7,000 per tonne on July 9 from INR 219,750-232,750 per tonne to INR 212,750-225,750 per tonne.
Vedanta links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which during July 1-8 fell from US$ 2,481 per tonne to US$ 2,435 per tonne. On a month-on-month basis, the price is down by US$ 4 per tonne from 2,439 per tonne but up on a year on year basis by US$ 816 per tonne from US$ 1,619 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.
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