Vedanta’s aluminium wire rod & billet prices shrink by INR3000/t on August 18 after an intermittent raise
Vedanta Limited again reduced its aluminium products and aluminium ingot prices on August 18 after an intermittent raise on August 17. Vedanta cut its aluminium wire rod price by INR 3,000 per tonne or 1.29 per cent to INR 229,000-236,500 per tonne as of August 18 versus INR 232,000-239,500 per tonne on August 17.
Aluminium billet price also saw a cut of INR 3,000 per tonne on Thursday, August 18, from INR 233,500 per tonne to INR 230,500 per tonne.
With the last cut, Vedanta’s aluminium ingot price is hovering around INR 221,500-251,000 per tonne, compared to INR 224,500-254,000 per tonne on August 17.
Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which slipped by US$28 per tonne on August 17 from US$2,442 per tonne to US$2,414 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 in India's primary aluminium market.
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