Vedanta’s aluminium billet price sheds INR2750/t to stand at INR233000/t on July 26
Vedanta Limited has reduced its aluminium products and aluminium ingot prices by INR 2,750 per tonne, with effect from Tuesday, July 26, following an increase by the same amount on July 23. Vedanta’s aluminium billet price has come in at INR 233,000 per tonne, as against INR 235,750 per tonne on Saturday, July 23.
Vedanta is currently selling its aluminium wire rod price at INR 231,500-239,000 per tonne versus INR 234,250-241,750 per tonne as of July 23. Aluminium ingot price is standing at INR 224,000-255,500 per tonne, seeing a cut of INR 2,750 per tonne on July 26 from INR 226,750-258,250 per tonne.
Vedanta Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which slipped by US$28.50 per tonne on Monday, July 25, to come in at US$2,431.50 per tonne, versus INR 2,460 per tonne on July 22.
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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