NALCO reduces its aluminium ingot price by over 1.5% to INR214,050-217,550/t w.e.f. July 14

National Aluminium Company Limited (NALCO) has decreased its aluminium ingot and aluminium products prices, following a hike last week, June 7. With effect from Wednesday, July 14, NALCO’s aluminium ingot price has come in at INR 214,050-217,550 per tonne, down by INR 3,700 per tonne or 1.7 per cent from INR 217,750-221,250 per tonne on July 7.

NALCO’s aluminium wire rod price has also seen a cut of INR 3,700 per tonne to INR 217,550-221,900 per tonne, with effect from July 14. Since July 7, the price hovered around 221,250- 225,600, gaining INR 4,900 per tonne.

NALCO’s aluminium billets price is at present ranging between INR 217,500-220,150 per tonne, compared to INR 221,200-223,850 per tonne last week.

NALCO, like any other Indian aluminium producer, links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which after July 7, trended down from US$ 2,508.50 per tonne to US$ 2,478 per tonne as of July 13. However, on July 14, the price rebounded to US$ 2,509 per tonne. On a month-on-month basis, the price is up by US$ 5 per tonne from US$ 2,504 per tonne and on year by about US$ 869 per tonne from US$ 1,640 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.