Vedanta’s aluminium wire rod price sees a dip of INR1500/t with effect from December 3
Vedanta Limited trimmed its aluminium products and aluminium ingot price by INR 1,500 per tonne on Saturday, December 3. That brought the company’s aluminium wire rod price to INR 235,250-242,750 per tonne versus INR 236,750-244,250 per tonne on December 2.
With the latest cut, Vedanta’s aluminium billet price came in at INR 236,750 per tonne compared to INR 238,250 per tonne on December 2. Vedanta’s aluminium ingot price hovered around INR 227,750-258,750 per tonne as of December 3 as against INR 229,250-260,250 per tonne on December 2.
Vedanta curtailed its aluminium products and aluminium ingot prices on December 3 despite the rally of the three-month futures of aluminium on the London Metal Exchange by US$18 per tonne on December 2 from US$2,430.50 per tonne to US$2,448.50 per tonne.
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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