NALCO cuts its aluminium ingot price by INR4700/t in line with the downsize of LME aluminium price
National Aluminium Company Limited (NALCO) has further reduced its aluminium ingot price since the last trim more than two weeks ago. On Thursday, August 18, the company's aluminium ingot price witnessed a cut of INR 4,700 per tonne to INR 221,950- 225,450 per tonne versus INR 226,650-230,150 per tonne on August 1.
NALCO’s aluminium wire rod price has also suffered a loss of INR 4,700 per tonne on Thursday, August 18. Thus, the price has come in at INR 225,450- 229,800 per tonne against INR 230,150-234,500 per tonne on August 1.
NALCO’s aluminium billets price is currently hovering around INR 226,400- 229,050 per tonne versus INR 231,100-233,750 per tonne on August 1.
NALCO has continued to cut its aluminium ingot and aluminium products prices in response to the downward trend in aluminium price on the London Metals Exchange. In the current month, the LME aluminium price has mostly experienced declines from US$2,469.50 per tonne on August 1 to US$2,414 per tonne on August 17. This reflects a downfall of US$55.5 per tonne through the month so far.
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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.
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