Vedanta’s aluminium ingot price slips by INR1250/t with effect from December 27
Vedanta Limited trimmed its aluminium ingot and aluminium products prices by INR 1,250 per tonne on Tuesday, December 27, following a raise of INR 3,000 per tonne on December 22. That brought the company’s aluminium ingot price to INR 224,250-255,250 per tonne versus INR 225,500-256,500 per tonne on December 22.
Vedanta’s aluminium wire rod price is currently hovering around INR 231,750-239,250 per tonne, compared to INR 233,000-240,500 per tonne in the previous week. With the latest cut, aluminium billet price has come in at INR 233,250 per tonne in comparison with INR 234,500 per tonne on December 22.
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$20 per tonne from US$2,362 per tonne to US$2,342 per tonne as of December 23.
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.
LME aluminium price inches up by US$1/t to US$2,343/t; SHFE price slips to US$2,687 per tonne
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