Vedanta cuts its aluminium ingot price by INR 3,000/t on May 15
Vedanta has reduced its aluminium products price by INR 3,000 per tonne. With effect from Saturday, 15 May 2021, the prices of some aluminium ingots have declined by more than 1% to stand at INR 206,500-219,500 per tonne from INR 209,500-222,500 per tonne on May 13.
The company’s billets price stands at INR 214,500 per tonne on Saturday, 15 May 2021, a decrease of INR 3,000 per tonne or 1.38% from INR 217,500 per tonne on May 13.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price on stood at US$ 2,438 per tonne on Friday, May 14, an increase from US$ 2,422.5 per tonne on May 13.
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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