Vedanta slashes its aluminium ingot price by INR 3,500 on June 16
Vedanta has slashed its aluminium products price by more than 1% after marking a hike yesterday. With effect from Wednesday, 16 June 2021, the prices of some aluminium ingots have reduced by INR 3,500 per tonne to stand at INR 207,750-220,750 per tonne, from INR 211,250-224,250- per tonne on June 15.
The billets price stands at INR 215,750 per tonne on Wednesday 16 June 2021, reflecting a drop of INR 3,500 per tonne from INR 219,250 per tonne on June 15.
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$ 2458.5 per tonne on Tuesday, June 15, down from US$ 2504 per tonne on June 14.
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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