NALCO cuts its aluminium ingot price for the second time in less than a week by INR4300/t

National Aluminium Company Limited (NALCO) has cut its aluminium ingot and aluminium products prices for the second time in a row within a week. With effect from Saturday, February 11, NALCO has reduced its aluminium ingot price by INR 4,300 per tonne or 1.8 per cent to INR 231,850-235,350 per tonne. The previous cut was on February 7 when NALCO’s aluminium ingot price experienced a plunge of INR 7,800 per tonne to INR 236,150-239,650 per tonne.

On February 11, NALCO reduced its aluminium wire rod price by INR 4,300 per tonne to sell the product at INR 236,350-240,700 per tonne versus INR 240,650-245,000 per tonne on February 7. The company’s aluminium billets price is no exception but has also been cut by the same amount to INR 236,300-238,950 per tonne as of February 11, compared to INR 240,600-243,250 per tonne on February 7.

NALCO has further reduced its aluminium ingot and aluminium products prices in response to the decline in the three-month futures of aluminium on the London Metal Exchange, which shrank by US$51.50 per tonne during February 6-10 from US$2,486.50 per tonne to US$2,435 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.