Vedanta’s aluminium ingot price suffers a loss of INR5500/t on June 11

Vedanta Limited has reduced its aluminium ingot and aluminium products prices by INR 5,500 per tonne or 2 per cent, with effect from Saturday, June 11, following a hike on June 9. That has brought the company’s aluminium ingot price to INR 242,500-275,500 per tonne versus INR 248,000-281,000 per tonne on Thursday, June 9. Vedanta aluminium ingot price on June 9 had seen a rise of INR 4,250 from the previous day.

With effect from June 11, Vedanta’s aluminium wire rod price has come in at INR 250,000-257500 per tonne after being slashed by INR 5,500 per tonne. On June 9, the price stood at INR 255,500-263,000 per tonne, up by INR 4,250 per tonne from 251,250-258750 on June 8.

Aluminium billets selling price is currently standing at INR 251,500 per tonne, also down by INR 5,500 per tonne from INR 257,000 per tonne on June 9.

Vedanta Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which during June 8-10 decreased by US$70.50 per tonne or 2.55 per cent from US$2,765.50 per tonne to US$2,695 per tonne.

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.