Vedanta’s aluminium ingot & products prices down by INR2250/t after a hike this week
Vedanta Limited has reduced its aluminium ingot and aluminium products prices with effect from Friday, January 29, in line with sluggish LME aluminium benchmark price since January 27. Decreasing the aluminium ingot price by INR 2,250 per tonne, Vedanta is now selling it at INR 167,250-180,250 per tonne versus INR 169,500-182,500 per tonne on January 26.
With the latest cut, Vedanta’s aluminium billets price has come in at INR 175,250 per tonne, down by INR 2,250 per tonne from INR 177,500 per tonne. Vedanta’s aluminium wire rod price is hovering around INR 174,750-182,250 per tonne, registering a fall of INR 2,250 per tonne as well from INR 177,000-184,500 per tonne on January 26.
Vedanta Limited links the prices of its aluminium products and aluminium ingot to the three-month futures of aluminium on the London Metal Exchange, which after January 26 decreased to US$ 1979 per tonne, as of January 28. On a year-on-year calculation, the three-month futures of aluminium on LME are currently up by about US$ 246.50 per tonne.
Vedanta’s aluminium businss 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.
NALCO elevates its aluminium ingot price by INR1400/t with effect from January 28
Next articleLME aluminium price plunged this week to US$1987/t amid opening stock surge to 1431050 tonnes; SHFE stood range-bound
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