Vedanta Limited has reduced its aluminium ingot and aluminium products prices with effect from Wednesday, January 4. The company’s aluminium ingot price has seen a cut of INR 1,750 per tonne, reaching INR 223,750-254,250 per tonne versus INR 225,500-256,000 per tonne on January 3.
Vedanta’s aluminium wire rod price has also been trimmed by INR 1,750 per tonne on January 4 from INR 233,000-240,500 per tonne to INR 231,250- 238,750 per tonne. The company’s aluminium billets price is no exception but also experienced a cut of INR 1,750 per tonne to come in at INR 232,750 per tonne, compared with INR 234,500 per tonne on the earlier day.
Vedanta links its aluminium ingot and aluminium products prices with the three-month futures of aluminium on the London Metal Exchange, which slipped by US$23 per tonne from US$2,360.50 per tonne on December 30 to US$2,337.50 per tonne as of January 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.
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