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13 OCTOBER 2022 AL CIRCLE

Vedanta’s aluminium ingot price further shrinks by 2% with effect from October 12

EDITED BY : DEBANJALI SENGUPTA 1MINS READ

Vedanta Limited has continued to reduce its aluminium ingot and aluminium products prices, with effect from Wednesday, October 12. The company has further axed its aluminium ingot price by INR 5,000 per tonne or 2.3 per cent to INR 212,250- 242,750 per tonne. On the previous day, it stood at INR 217,250 -247,750 per tonne, seeing a slash of INR 5,250 per tonne.

Vedanta’s aluminium ingot price further shrinks by 2% with effect from October 12

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The latest cut has brought in the Vedanta’s aluminium wire rod price to INR 219,750- 227,250 per tonne, down by INR5,000 per tonne from INR 224,750-232,250 per tonne on October 11. Aluminium billet price is hovering around INR 221,250 per tonne, effective from October 12, compared to INR 226,250 per tonne last day.

Vedanta links its aluminium prices to the three-month futures of aluminium on the London Metal Exchange, which plunged for the third day in a row by US$55.50 per tonne to stand at US$2,218.50 per tonne as of October 11.

Future of Aluminium in Transportation Sector

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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EDITED BY : DEBANJALI SENGUPTA 1MINS READ

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