Vedanta cuts aluminium making cost by 10% to $1,852 a tonne in Q2

Firm aims to achieve Rs 1,500 a tonne; LME prices of metal stood at $1,756 a tonne as on November 14. At this price point, 10% of the global smelters are incurring cash losses

At a time when aluminium prices on the London Metal Exchange (LME) have entered the bearish zone, hurting realisations of producers, Vedanta Ltd has pruned the cost of production (CoP) by 10 per cent during the September quarter of this fiscal.

Vedanta's aluminium CoP in the quarter stood at $1,852 per tonne. LME prices of the silvery white metal stood at $1,756 per tonne (as on November 14) for the cash buyer. At this price point, 10 per cent of the global aluminium smelters are incurring cash losses.

During the first half or April-September of FY20, Vedanta's aluminium CoP was