Vedanta’s aluminium wire rod price undergoes two succeeding cuts totalling INR221,000-228,500/t

Vedanta Limited continued to reduce its aluminium products prices on Saturday, March 18, bringing its aluminium wire rod price to the range between INR 221,000-228,500 per tonne, down by INR 1,500 per tonne from the previous day. On Thursday, March 16, Vedanta’s aluminium wire rod price stood at INR 222,500-230,000 per tonne, down by INR 2,000 per tonne from INR 224,500-232,000 per tonne on March 15.

Vedanta’s aluminium billet price came in at INR 222500 per tonne as of March 18, also down by INR 1,500 per tonne from INR 224,000 per tonne. On March 16, the price saw a slash of INR 2,000 per tonne from INR 226,000 per tonne on March 15.

Aluminium ingot price was no exception but saw a cut of INR 1,500 per tonne on March 18 to INR 213500-244,000 per tonne, following by a downfall of INR 2,000 per tonne on March 16 from INR 217,000-247,500 per tonne to INR 215,000-245,500 per tonne.

Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which decreased for the three days in a row by US$40 per tonne during March 15-17 from US$2,272 per tonne to US$2,232 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.