Vedanta’s aluminium wire rod and billet prices continue to see a cut of INR3000/t with effect from April 6

Vedanta Limited further cut its aluminium products and aluminium ingot prices for the third time in a row over about a week, with effect from Wednesday, April 6. Vedanta’s aluminium wire rod price saw a trim of INR 3,000 per tonne or 1 per cent to INR 301,500- 309,000 per tonne versus INR 304,500-312,000 per tonne on April 5.

Vedanta’s aluminium billet price has also been cut by INR 3,000 per tonne to INR 302,000 per tonne as of April 6. On April 5, aluminium billet price stood at INR 305,000 per tonne, seeing a downfall of INR 4,250 per tonne from the previous day.

As far as Vedanta’s aluminium ingot price is concerned, it is also trimmed by INR 3,000 per tonne from INR 297,000-344,500 per tonne on April 5 to INR 294,000-341,500 per tonne on April 6.

Vedanta Limited links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange. So, in response to its extended downfall to US$3,415 per tonne on April 5, Vedanta reduced its aluminium prices. On a month-on-month calculation, the LME aluminium price stood US$436 per tonne lower than US$3,851 per tonne as of April 5.

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.