Vedanta’s aluminium ingot price slips by INR3000/t with effect from February 3

Vedanta Limited reduced its aluminium ingot and aluminium products prices by INR 3,000 per tonne on Friday, February 3, following an increase of INR 7,000 per tonne on the previous day. On February 3, Vedanta’s aluminium ingot price came in at INR 242,500-255,500 per tonne, compared to INR 245,500-258,500 per tonne on February 2.

Vedanta’s aluminium wire rod price ranged between INR 250,000-257,500 per tonne as of February 3, also down by INR 3,000 per tonne from INR 253,000-260,500 per tonne on the previous day. Aluminium billet price stood at INR 251,500 per tonne versus INR 254,500 per tonne.

Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which decreased by US$51 per tonne from US$2,611 per tonne on February 1 to US$2,560 per tonne on February 3.

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 of India's primary aluminium market.