Vedanta’s aluminium ingot price experiences a cut of INR3500/t with effect from November 18
Vedanta Limited reduced its aluminium ingot and aluminium products prices by INR 3,500 per tonne on Friday, November 18. With the latest cut, Vedanta’s aluminium ingot price hovered around 221,250-252,250 per tonne versus INR 224,750- 255,750 per tonne on November 17.
Vedanta’s aluminium wire rod price ranged between INR 228,750-236,250 per tonne as of November 18, also down INR 3,500 per tonne from INR 232,250-239,750 per tonne on November 17. Aluminium billet price came in at INR 230,250 per tonne on November 18 compared to INR 233,750 on the previous day.
Vedanta curtailed its aluminium ingot and products prices on November 18, in line with the plunge of the three-month futures of aluminium on the London Metals Exchange. On November 17, the LME aluminium benchmark price glided down by US$50.50 per tonne from US$2,393 per tonne to US$2,342.50 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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