Nalco not to hike aluminum prices despite rise on LME
Offers discounts on listed price
International aluminum prices at LME are firming up, after hitting a two-and-a-half year low recently. But domestic primary metal major, Nalco, is not going in for an upward revision of domestic selling price yet. The rise in average monthly LME price for November does give Nalco some leeway to increase prices. But the company has decided to offer discount on listed price instead. The decision to offer discounts was taken at the company`s price review meeting. The discounts along with lower exports, lead to a 32% rise in domestic sales during April-November. The company is offering a discount of Rs 2150 per tonne on its international and commercial grade metal. The bulk of domestic sales have been to electric cable and conductor business, which contribute nearly 40% of the aluminum production in the country.
