Vedanta’s aluminium wire rod & billet prices experience a loss of INR3000/t on Dec. 20

Vedanta Limited has curtailed its aluminium products and aluminium ingot prices by INR 3,000 per tonne, with effect from December 20. That followed a cut of INR 2,750 per tonne in the previous week, December 17.

With the latest cut, Vedanta’s aluminium wire rod price has come in at INR 230,000- 237,500 per tonne versus INR 233,000-240,500 per tonne on December 17. The company’s aluminium billet price has amounted to INR 231,500 per tonne, compared to INR 234,500 per tonne last week.

Vedanta’s aluminium ingot price has also experienced a loss of INR 3,000 per tonne reaching at INR 222,500- 253,500 per tonne as of December 20.

Vedanta has further cut its aluminium ingot and aluminium products prices in response to the LME aluminium benchmark price fall over the weekend by US$27 per tonne from US$2,354 per tonne on December 16 to US$2,327 per tonne on December 19.

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.