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26 JUNE 2020 AL CIRCLE

Vedanta’s aluminium ingot price stands at INR 133,750-146,750/t with effect from June 26

EDITED BY : HEENA IQBAL 2MINS READ

Vedanta has reduced its aluminium products price for the second time in a row. With effect from Friday 26 June 2020, the prices of some aluminium ingots are in the range of INR 133,750-146,750 per tonne. This marks a drop of INR 2000 per tonne or 1.47% from INR 135,750-148,750 per tonne on June 25.

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With the latest decline, Vedanta’ billet now stands at INR 141,750 per tonne on June 26, down INR 2,000 per tonne or 1.39% from INR 143,750 per tonne on June 25.

The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium have been declining due to slower global demand following the coronavirus outbreak.

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Vedanta Limited cuts its aluminium Cost of Production (CoP) in the fourth quarter of FY20 by 20 per cent year-on-year to $1451 per tonne. In the full financial year 2020, Cost of Production was down by 14 per cent year-on-year to $ 1690 per tonne. In FY2020, Aluminium production stood at 1.904 million tonnes.

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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EDITED BY : HEENA IQBAL 2MINS READ

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