NALCO reduces its aluminium ingot price by INR1000/t on April 1 after two consecutive weeks of hike

National Aluminium Company Limited (NALCO) has reduced its aluminium ingot and aluminium products prices with effect from Thursday, April 1, following a sharp rise of INR 5,000 per tonne last week on March 27.  The company has decreased its aluminium ingot price by only INR 1,000 per tonne this week from INR 188,650-192,150 per tonne on March 27 to INR 187,650-191,150 per tonne.

The company’s aluminium wire rod price has also faced a cut of INR 1,000 per tonne with effect from April 1 to INR 191,150-195,500 per tonne. NALCO’s aluminium billets price has come in at INR 191,100-193,750 per tonne compared to INR 192,100-194,750 per tonne on March 27.

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 increased this week from US$ 2,255.50 per tonne on March 29 to US$ 2,212.50 per tonne on April 1. However, on a year-on-year basis, the three-month futures of aluminium on LME are currently up by US$ 749 per tonne or 51.18 per cent.

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.