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13 APRIL 2022 AL CIRCLE

NALCO sharply cuts its aluminium ingot price by INR15700/t w.e.f. April 12 as LME price plummets by 7.7%

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

National Aluminium Company Limited has further slashed its aluminium ingot and aluminium products prices since its last cut on April 1, 2022. With effect from Tuesday, April 12, NALCO has chopped its aluminium ingot price by INR 15,700 per tonne or 5.30 per cent to INR 280,550- 284,050 per tonne as against INR 296,250- 299,750 on April 1.

NALCO sharply cuts its aluminium ingot price by INR15700/t w.e.f. April 12 as LME price plummets by 7.71%

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NALCO has also reduced its aluminium wire rod price by INR 15,700 per tonne, with effect from April 12, from INR 298,750- 303,100 per tonne to INR 283,050- 287,400 per tonne. Aluminium billets price has experienced no exception but a cut of INR 15,700 per tonne as well from INR 299,700- 301,200 per tonne to INR 284,000- 286,650 per tonne.

NALCO links its aluminium ingot and aluminium products prices to the three-month future price of aluminium on the London Metal Exchange, which is why NALCO has reduced its aluminium prices in tandem with the continued downfall of the global LME benchmark price. After April 1, the LME aluminium price has plummeted by US$268.50 per tonne to stand at US$3,214.50 per tonne as of April 12.

Global Aluminium Industry Outlook 2022

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 : DEBANJALI SENGUPTA 2MINS READ

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