NALCO reduces its aluminium ingot price by INR4200/t w.e.f. January 1 in line with LME aluminium price dip
National Aluminium Company Limited (NALCO) reduced its aluminium ingot and aluminium products prices, with effect from Saturday, January 1, 2022. The company cut its aluminium ingot price by INR 4,200 per tonne to 238350–241850 per tonne as of January 1. Last time, on December 24, NALCO had significantly increased its aluminium ingot price by INR 10,600 per tonne to INR 242,550-246,050 per tonne.
NALCO’s aluminium wire rod price also saw a slash of INR 4,200 per tonne on January 1 from INR 245,050-249,400 per tonne to INR 240,850-245,200 per tonne. Aluminium billets price witnessed no exception but a downfall of INR 4,200 per tonne as well to INR 241,800- 244,450 per tonne. On December 24, NALCO’s aluminium billets price stood at INR 245,050-249,400 per tonne.
NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which from December 29 to 31 decreased by US$29 per tonne to US$2,806 per tonne. However, on a year-on-year calculation, the price stood up nearly US$171 per tonne from US$2,635 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.
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