NALCO reduces aluminium ingot price by INR4800/t or 2% with effect from May 28
National Aluminium Company Limited reduced its aluminium ingot and aluminium products prices, with effect from Saturday, May 28, following two hikes on May 19 and May 25. Since the last cut, NALCO’s aluminium ingot price has come in at INR 254,250 – 257,750 per tonne, down by INR 4,800 per tonne or 1.85 per cent from INR 259,050 – 262,550 per tonne on May 25.
NALCO’s aluminium billets price also saw a plunge of INR 4,800 per tonne from INR 262,500 – 265,150 on May 25 to INR 257,700 – 260,350 per tonne on May 28. NALCO also axed its aluminium wire rod price by the same amount to sell the product at INR 256,750 – 261,100 per tonne, with effect from May 28.
NALCO reduced its aluminium ingot and aluminium products on May 28 in response to the LME aluminium price slump by US$58 per tonne from US$2,881 per tonne to US$2,823 per tonne during May 24-27.
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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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