Vedanta deducts INR4750/t from its aluminium ingot price with effect from July 1

Vedanta Limited has deducted INR 4,750 per tonne from all its aluminium products and aluminium ingot price, with effect from Friday, July 1. With this cut, Vedanta’s aluminium ingot price has come in at INR 220,500-253,500 per tonne, in contrast to INR 225,250- 258,250 per tonne on June 30.

The company’s aluminium wire rod price is currently ranging between INR 228,000- 235,500 per tonne, as against INR 232,750- 240,250 per tonne on the previous day. From today, Vedanta is selling its aluminium billet at INR 229,500 per tonne in contrast to INR 234,250 per tonne on June 30.

Vedanta Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which is on downward trend since June 29. On Wednesday, June 29, the LME aluminium price slipped by US$48 per tonne to US$2,452 per tonne and further sloped down by 2.24 per cent to US$2,397 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.