Vedanta’s aluminium products prices see a slash of INR5750/t with effect from March 7

Vedanta Limited has axed its aluminium products prices by INR 5,750 per tonne on Tuesday, March 7, following a hike last week. The company’s latest price slash has brought its aluminium wire rod price to INR 227,250-234,750 per tonne versus INR 233,000-240,500 per tonne on March 2.

Vedanta’s aluminium billet price has come in at INR 228,750 per tonne as of March 7, compared to INR 234,500 per tonne on March 2. The company’s aluminium ingot price has also been reduced by INR 5,750 per tonne to INR 219,750-250,250 per tonne from INR 225,500-256000 per tonne.

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$45 per tonne or 1.90 per cent from US$2,366.50 per tonne on March 2 to US$2,321.50 per tonne on March 6.

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.