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19 OCTOBER 2022 AL CIRCLE

NALCO sharply cuts its aluminium ingot price by INR11400/t with effect from October 19

EDITED BY : SARNALI CHAKRABORTY 1MINS READ

National Aluminium Company Limited (NALCO) has axed its aluminium ingot and aluminium products prices, on October 19, after witnessing a hike on Thursday, October 6. NALCO’s aluminium ingot price has seen a slash of INR 11,400 per tonne to come in at INR 211,850-215,350 per tonne versus INR 223,250-226,750 per tonne on October 6.

NALCO sharply cuts its aluminium ingot price by INR11400/t with effect from October 19

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NALCO’s aluminium wire rod price has come in at INR 215,350-219,700 per tonne, also surged by INR 11,400 per tonne from INR 226,750-231,100 per tonne on October 6. The price of aluminium billets also witnessed the same price hike at INR 216,300-218,950 per tonne compared to INR 227,700-230,350 per tonne on October 6.

NALCO has sharply cut its aluminium prices in response to the LME aluminium official settlement price. From October 18 to October 19, the LME aluminium benchmark price slumped by US$39.5 per tonne to settle at US$2,200.50 per tonne.

Future of Aluminium in Transportation Sector

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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EDITED BY : SARNALI CHAKRABORTY 1MINS READ

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