- NALCO slashes aluminium benchmark by 7.3%
- Domestic aluminium benchmarks witness sharp correction
NALCO reduced its primary aluminium ingot (P1020, 99.7%) prices on 26 June, lowering the benchmark to INR 349,000/t ($3,873/t) from INR 376,500/t ($4,178/t) on 18 June, reflecting a sharp decline of INR 27,500/t ($305/t), or 7.3%, amid continued weakness in domestic and global aluminium market trends. The prices are quoted on an ex-works basis and exclude GST.
According to BigMint’s assessments, P1020 aluminium ingot prices in Delhi NCR fell by INR 25,000/t ($277/t), or 7% w-o-w, to INR 340,000/t ($3,773/t) on 26 June from INR 365,000/t ($4,050/t) on 19 June.
Meanwhile, BALCO recorded a 4% w-o-w decline, with average prices falling to INR 378,708/t ($4,203/t) from INR 394,875/t ($4,382/t). Similarly, Hindalco prices declined by 6% w-o-w to INR 367,750/t ($4,082/t) from INR 389,250/t ($4,320/t) during the same period.
Similarly, benchmark three-month aluminium futures on the London Metal Exchange (LME) fell by $221/t, or 7% w-o-w, to $3,177/t from $3,398/t.
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