NALCO slightly reduces its aluminium ingot price by INR1400/t with effect from October 26
National Aluminium Company Limited (NALCO) has slightly cut its aluminium ingot and aluminium products prices compared to the previous slash last week, October 19. This week, Nalco has reduced its aluminium ingot price by only INR 1,400 per tonne or 0.7 per cent to INR 210,450-213,950 per tonne as of October 26.
NALCO’s aluminium wire rod price has also seen a cut of INR 1,400 per tonne to stand at INR 213,950- 218,300 per tonne on October 26 versus INR 215,350-219,700 per tonne on October 19. Aluminium billets price is currently ranging between INR 214,900- 217,550 per tonne, with effect from October 26, as against INR 216,300-218,950 per tonne last week.
Like other Indian aluminium giants, NALCO links its aluminium prices to the three-month futures of aluminium on the London Metal Exchange, which slipped during October 20-25 by US$43.50 from US$2,214 per tonne to US$2,170.50 per tonne.
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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