NALCO continues to cut its aluminium ingot price sharply by INR7300/t with effect from September 27
National Aluminium Company has axed its aluminium ingot and aluminium products prices, with effect from September 27, following a cut of INR 2,500 per tonne ten days ago. NALCO’s aluminium ingot price has seen a slash of INR 7,300 per tonne to come in at INR 203,450-206,950 per tonne versus INR 210,750-214250 per tonne on September 17.
NALCO’s aluminium wire rod price has also been reduced by INR 7,300 per tonne, effective from September 27, to stand at INR 206,950- 211,300 per tonne compared to INR 214,250-218,600 per tonne. Aluminium billets price is no exception but experienced a similar downfall to range between 207,900- 210,550 per tonne as of September 27.
NALCO has further reduced its aluminium prices, in line with the sharp fall of the three-month futures of aluminium on the London Metal Exchange by US$133.50 per tonne in ten days to settle at US$2,125.50 per tonne.
NALCO’s aluminium products and alumina account for nearly two-thirds of the company’s gross topline, while the sales of chemicals contribute to the rest. NALCO manufactures wire rods, billets, coils, and chequered sheets.
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