Vedanta Limited reduced its aluminium ingot and aluminium products prices on an alternate day after escalating the prices on Friday, June 24. With effect from Saturday, June 25, Vedanta’s aluminium ingot price saw a slash of INR 3,750 per tonne or 1.66 per cent to INR 222,000-255,000 per tonne. On the previous day, the price stood at INR 225,750- 258,750, up by INR 2,250 per tonne from INR 223,500-256,500 per tonne on June 23.
Vedanta also cut its aluminium billet price by INR 3,750 per tonne on June 25 to sell the product at INR 231,000 per tonne versus INR 234,750 on June 24. Aluminium wire rod price came in at INR 229,500- 237,000 per tonne, with effect from June 25, seeing a deduction by the same amount from 233,250- 240,750 on June 24.
Vedanta Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which slipped by US$44 per tonne on June 24 to close the week at US$2,436 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.
