NALCO reduces its aluminium ingot price this week by INR1600/t
National Aluminium Company Limited has reduced its aluminium ingot and aluminium products prices this week, with effect from Friday, February 5. NALCO’s aluminium ingot price has thus come in at INR 167,650-171,150 per tonne, down by INR 1,600 per tonne from INR 169,250-172,750 per tonne on last Thursday, January 28.
NALCO’s aluminium wire rod price is standing at INR 171,150-175,500 per tonne, recording a decrease of INR 1,600 per tonne from INR 172,750 – 177,100 per tonne. Aluminium billets price has been cut by the same amount from INR 172,700 – 175,350 per tonne to INR 171,100 – 173,750 per tonne.
NALCO, like any other Indian aluminium producers, links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which after last Thursday, January 28, hiked to US$ 2007.50 per tonne, as of February 5.
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.
Vedanta back-to-back raises its aluminium ingot price on February 5 & 6 in line with 3-month aluminium futures surge on LME
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