Vedanta cuts its aluminium ingots price by INR 5,000/t
Vedanta has cut its aluminium products price by more than 2%. With effect from Friday, 4 June 2021, the prices of some aluminium ingots have declined by INR 5,000 per tonne to stand at INR 201,750-214,750 per tonne as against INR 206,750-219,750- per tonne on June 2.
The company’s billets price stands at INR 209,750 per tonne on Friday, 4 June 2021, indicating a drop of INR 5,000 per tonne or 2.33%. Billets price was INR 214,750 per tonne on June 2.
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$ 2386.5 per tonne on Thursday, June 3, down from US$ 2442 per tonne on June 2.
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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