29 OCTOBER 2013Metalbulletin.com
India’s Nalco sells 3,000 tonnes of aluminium at $227/t premium
Edited by : AL CIRCLE
1 min read
India’s National Aluminium Co (Nalco) sold 3,000 tonnes of aluminium ingot in a tender at a premium of $227 per tonne over the LME cash price on a cif Singapore basis, according to two trader sources.
The company’s tender was for delivery of 500 tonnes per month from November to April, a trader said.
“I can’t believe why anyone will pay that high an amount,” he said, adding that it went at those levels because of a smaller tonnage.
“Nalco’s premium last week was at plus $225 per tonne levels, we don’t know who won it though,” a second Asian trader source said.
Company officials at Nalco were not immediately available for comment.
The company’s tender was for delivery of 500 tonnes per month from November to April, a trader said.
“I can’t believe why anyone will pay that high an amount,” he said, adding that it went at those levels because of a smaller tonnage.
“Nalco’s premium last week was at plus $225 per tonne levels, we don’t know who won it though,” a second Asian trader source said.
Company officials at Nalco were not immediately available for comment.
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