NALCO reduces its aluminium ingot price by INR6500/t w.e.f Dec 15
National Aluminium Company Limited (NALCO) reduced its aluminium ingot and aluminium products prices, with effect from December 15, following a significant rise of 6.6 per cent on December 7. NALCO this week cut its aluminium ingot price by INR 6,500 per tonne from INR 235,150-238,650 per tonne to INR 228,650- 232,150 per tonne.
The company’s aluminium wire rod price also experienced a slash of INR 6,500 per tonne on December 15 to stand at INR 233,150-237,500 per tonne versus INR 239,650-244,000 per tonne on December 7.
NALCO also withdrew INR 6,500 per tonne from its aluminium billets price, with effect from December 15, to sell the product at INR 233,100-235,750 per tonne, compared with INR 239,600-242,250 a week earlier.
NALCO links its aluminium ingot and aluminium products prices with the three-month futures of aluminium on the London Metal Exchange, which dwindled by US$81.50 per tonne from US$2,461 per tonne on December 6 to US$2,379.50 per tonne on December 14.
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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