Vedanta cuts its aluminium ingots price by INR 3,500/t
Vedanta has cut its aluminium products price by more than 2%. With effect from Thursday, 19 August 2021, the prices of some aluminium ingots have come in at INR 224,000-237,000 per tonne. This is down by INR 3,500 per tonne from INR 227,500-240,500- per tonne on August 18.
The billets price stands at INR 232,000 per tonne on Thursday, 19 August 2021, standing lower by 1.49% or INR 3,500 per tonne from INR 235,500 per tonne on August 18.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price stood at US$ 2589.5 per tonne on August 18, from US$ 2633 per tonne on August 17.
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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