NALCO extends aluminium ingot price cut by INR5200/t with effect from May 22

National Aluminium Company Limited (NALCO) extended its aluminium ingot and aluminium products price cut last week, albeit lower than the previous day, with effect from May 22. NALCO reduced its aluminium ingot price by INR 5,200 per tonne or 2.5 per cent to INR 200,350-203,850 per tonne on Saturday, May 22. On Wednesday, May 19, NALCO’s aluminium ingot price stood at INR 205,550-209,050 per tonne, decreasing by INR 8,800 per tonne from May 11.

Since the latest cut, NALCO’s aluminium wire rod price has been hovering around INR 203,850-208,200 per tonne, also down by INR 5,200 per tonne from INR 209,050-213,400 per tonne on May 19.

The company is currently selling is aluminium billets price at INR 203,800-206,450 per tonne, with effect from May 22, compared to INR 209,000-211,650 per tonne on May 19.

NALCO, like any other Indian aluminium producers, links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which on Thursday, May 20, decreased by US$ 10.50 per tonne to come in at US$ 2,392 per tonne but rebounded the next day to US$ 2,403 per tonne. But on a week-on-week basis, the price stood down by US$ 35 per tonne or 1.44 per cent from US$ 2,438 per tonne on May 14.

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.