NALCO reduces its aluminium ingot price by INR9400/t on Jan 6 in line with LME price contract
National Aluminium Company Limited (NALCO) has slashed its aluminium ingot and aluminium products prices, with effect from January 6, in line with the plunge in LME aluminium benchmark price by US$95 per tonne through the last week. NALCO has sharply cut its aluminium ingot price by INR 9,400 per tonne from INR 225,250-228,750 per tonne to INR 215,850-219,350 per tonne.
NALCO’s aluminium wire rod price has also been reduced by INR 9,400 per tonne, with effect from January 6, from INR 229,750-234,100 per tonne on January 1 to INR 220,350-224,700 per tonne. Aluminium billets price is no exception but seen a cut by the same amount to range between INR 220,300-222,950 per tonne, compared to INR 229,700-232,350 per tonne on January 1.
NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which contracted by US$95 per tonne through the week from US$2,337.50 per tonne on January 3 to US$2,242.50 per tonne on January 6.
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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Next articleChina’s A00 aluminium ingot price opens the week with a growth of RMB160/t; Low carbon aluminium price ascends to RMB 18,432/t
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