Vedanta’s aluminium ingot price sees a cut of INR4000/t with effect from September 7
Vedanta Limited has again reduced its aluminium ingot and aluminium products prices, with effect from Wednesday, September 7, following an intermittent raise on September 3. With the latest cut, the company’s aluminium ingot price has come in at INR 209,250- 238,750 per tonne, down by INR 4,000 per tonne or 2 per cent from INR 213,250-242,750 per tonne.
Vedanta’s aluminium wire rod price has also experienced a cut of INR 4,000 per tonne from INR 220,750-228,250 per tonne on September 3 to INR 216,750- 224,250 per tonne on September 7. Aluminium billet price is now ranging between INR 218,250 per tonne versus INR 222,250 per tonne on September 3.
Vedanta has again cut its aluminium prices, linked to the three-month futures of aluminium on the London Metal Exchange. Over the past three days, the LME aluminium benchmark price slid down by US$46 per tonne from US$2,306 per tonne on September 1 to US$2,260 per tonne on September 6.
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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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