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20 JANUARY 2023 AL CIRCLE

Vedanta’s aluminium wire rod & billet prices experience a slash of over 3% on Jan 20

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Vedanta Limited has slashed the prices of aluminium products from January 20 following a surge on the previous day. The company has cut its aluminium wire rod price by INR 9,250 per tonne or 3.5 per cent to INR 245,500-253,000 per tonne as of January 20. On January 19, the price stood at INR 254,750-262,250 per tonne, seeing an escalation by INR 11,750 per tonne from 243,000-250,500 per tonne on January 18.

Vedanta’s aluminium wire rod & billet prices experience a slash of over 3% on Jan 20

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Vedanta’s aluminium billet price has also been reduced by INR 9,250 per tonne to INR 247,000 per tonne on January 20 after a hike of INR 11,750 per tonne on the previous day to INR 256,250 per tonne from INR 244,500 per tonne.

Aluminium ingot price is not spared but cut by INR 9,250 per tonne too on January 20. Hence, the current price has come in at INR 238,000-268,500 per tonne versus INR 247,250-277750 per tonne on January 19.

Vedanta has sharply reduced its aluminium products and aluminium ingot prices on January 20 in line with the LME aluminium price slump after an uptrend for a considerable time. On Thursday, January 19, the LME aluminium benchmark price plummeted by US$95 per tonne or 3.7 per cent to settle at US$2,541 per tonne.

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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.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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