NALCO’s aluminium ingot price experiencing ceaseless cuts to currently stand at INR223,450-226,950/t w.e.f. June 21
National Aluminium Company Limited (NALCO) has again reduced its aluminium ingot and aluminium products prices by almost the same amount like last time. With effect from June 21, NALCO has slashed its aluminium ingot price by INR 10,200 per tonne or 4.4 per cent to INR 223,450-226,950 per tonne versus INR 233,650-237,150 per tonne on June 16.
NALCO’s wire rod price has also experienced a sharp cut of INR 10,200 per tonne, with effect from June 21, resulting in INR 225,950-230,300 per tonne. Nearly a week ago, on June 16, the price stood at INR 236,150-240,500 per tonne after being axed by INR 10,300 per tonne.
With the latest cut, aluminium billets price is hovering around INR 226,900-229,550 per tonne, down by INR 10,200 per tonne too from INR 237,100-239,750 per tonne a week ago.
NALCO’s aluminium ingot and products prices have been seeing ceaseless cuts since the beginning of June in tandem with the continued LME aluminium price fall by US$38.50 per tonne during June 16-20.
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 rises mid-week by US$57.5/t to close at US$2519.5/t; SHFE suffers an US$17/t cut
Next articleNorth America’s primary aluminium production recovers 10,000 tonnes in May’22 to stand back at 325,000 tonnes
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