Nalco cuts aluminium ingots prices by nearly 2% after three hikes in a row
National Aluminium Company Limited, the Navratna CPSE under Ministry of Mines, has reportedly cut its aluminium ingots prices by nearly 2 per cent, after hiking them three times in a row.
The prices are now ranging between INR 150,350 per tonne and RMB 153,850 per tonne, compared to INR 152,850 – 156,350 per tonne after being hiked by 2 per cent.
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As considered most of the aluminium producers link their products prices to the three-month futures of aluminium on London Metal Exchange, which had been down nearly 2% so far this month, NALCO has also cut its ingot prices by almost 2 per cent.
Aluminium products and alumina account for nearly two-thirds of NALCO's gross topline, while chemical sales take care of the rest of its revenue. The company also produces wire rods, billets, coils, and chequered sheets.
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