Vedanta’s aluminium ingot price shrinks for the second time in a week to INR223,750-254,250/t
Vedanta Limited has again reduced its aluminium ingot and aluminium products prices, with effect from Friday, February 17, bringing its aluminium ingot price to INR 223,750-254,250 per tonne. The price is down by INR 4,000 per tonne from INR 227,750-258,250 per tonne on February 14.
Vedanta has also cut its aluminium wire rod price by INR 4,000 per tonne to sell it at INR 231,250-238,750 per tonne versus INR 235,250-242,750 per tonne on Tuesday, February 14. This marks the second cut in a week. The company’s aluminium billet price has come in at INR 232,750 per tonne, down by 1.7 per cent from INR 236,750 per tonne on February 14.
Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the Londom Metal Exchange, which shrank by US$49.50 per tonne during February 14-16 from US$2,391 per tonne to US$2,341.50 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 of India's primary aluminium market.
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