NALCO reduces its aluminium ingot price by INR5800/t with effect from May 1
National Aluminium Company Limited further reduced its aluminium ingot and aluminium products prices just after two days from the last cut. With effect from May 1, 2022, NALCO slashed its aluminium ingot price by INR 5,800 per tonne compared to the cut of INR 10,000 per tonne on April 28. Since, the latest cut, the company’s ingot price is ranging between INR 266850-270,350 per tonne versus INR 272,650 – 276,150 per tonne.
NALCO’s aluminium wire rod price also witnessed a cut of INR 5,800 per tonne on May 1 from INR 275,150 – 279,500 per tonne to INR 269,350-273,700 per tonne. Aluminium billets price came in at INR 270,300-272,950 per tonne, down by 2.1 per cent from INR 276,100 – 278,750 per tonne.
NALCO links its aluminium ingot and aluminium products prices to the three-month future price of aluminium on the London Metal Exchange. So, in response to the downfall in LME aluminium benchmark price from by US$26.50 per tonne to US$3,039 per tonne on May 29, NALCO further reduced its aluminium selling prices on May 1.
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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