NALCO aluminium ingot price slips by INR1000/t while other product prices remain restrained on Aug. 1

National Aluminium Company Limited has trimmed its aluminium ingot price, with effect from August 1, following an escalation of INR 11,300 per tonne on July 21. The price has slipped by only INR 1,000 per tonne to come in at INR 226,650-230,150 per tonne from INR 227,650-231,150 per tonne.

But the company’s product prices have recorded no change since the hike on July 21. Both aluminium wire rod price and aluminium billets price have remained restrained at INR 230,150-234,500 per tonne and INR 231,100-233,750 per tonne, respectively.

NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which stood range-bound even after many ups and downs between July 20 and 29. As per the LME data, the price only inched down by US$4.5 per tonne from US$2,456.50 per tonne to US$2,452 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.