NALCO’s aluminium ingot price drops by INR2500/t with effect from September 17
National Aluminium Company Limited's (NALCO) aluminium ingot and aluminium products prices fell after being cut by INR 2,500 per tonne, with effect from September 17. NALCO’s aluminium ingot price is currently ranging between INR 210,750-214250 per tonne since September 17 versus INR 213,250- 216,750 per tonne on September 14.
NALCO’s aluminium wire rod price came in at INR 214,250-218,600 per tonne on September 17, seeing a cut of INR 2,500 per tonne from INR 216,750- 221,100 per tonne. Aluminium billets price was reduced from 217,700- 220,350 per tonne to INR 215,200-217,850 per tonne.
NALCO reduced its aluminium ingot and aluminium products prices in response to fall of the three-month futures of aluminium on the London Metals Exchange by US$50.50 per tonne during September 13-16 from US$2,309.50 per tonne to US$2,259 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.
LME aluminium price closes the week with a plunge of US$42.5/t; SHFE price nosedives to US$2,582/t
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