NALCO further reduces its aluminium ingot price by nearly 2% with effect from September 25

National Aluminium Company Limited (NALCO) has extended its aluminium ingot and aluminium product price cut two weeks later with effect from September 25. NALCO’s aluminium ingot price is now standing at INR 145,250-148,750 per tonne, down by INR 2,600 per tonne or 1.8 per cent from INR 147,850 – 151,350 per tonne on September 11, 2020.

On September 11, NALCO’s aluminium ingot price was decreased by INR 2,200 per tonne or 1.47 per cent from about a month ago. This means NALCO on last Friday increased the cut of its aluminium ingot price by INR 400 per tonne.

Since the latest cut, NALCO’s aluminium billets price is ranging between INR 148,700- 151,350 per tonne, INR 2,600 per tonne or 1.7 per cent lower from INR 151,300- 152,800 per tonne. The company’s aluminium wire rod is now being sold at INR 148,750- 153,100, down by only INR 400 per tonne from INR 149,150-153,500 per tonne on September 11.

Vedanta, like any other Indian aluminium producers, links its aluminium product prices to the three-month futures of aluminium on London Metal Exchange. Since September 11 to September 25, aluminium price on the London Metal Exchange declined from US$ 1746.50 per tonne to US$ 1708.50 per tonne, marking the overall downfall of 3.58 per cent over the year till now.

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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