National Aluminium Company Limited (NALCO) has reduced the prices of its aluminium product and aluminium ingot with effect from Thursday, December 10, following a hike last week on December 1. NALCO has cut its aluminium wire rod price by INR 2,600 per tonne or 1.47 per cent from INR 177,350-181,700 per tonne to INR 174,750- 179,100 per tonne as of December 10. NALCO’s aluminium billets price has also been reduced by INR 2,600 per tonne with effect from December 10 to INR 174,700- 177,350 per tonne.
National Aluminium Company is now selling its aluminium ingot price at INR 171,250- 174,750 per tonne, down by the same amount as aluminium wire rod and billets. On December 1, NALCO’s aluminium ingot price stood at INR 173,850-177,350 per tonne soaring by INR 5,600 per tonne from the previous week.
NALCO has decreased its aluminium product and aluminium ingot prices in line with the downtrend in global aluminium benchmark price on the London Metal Exchange. During December 2-10, the three-month futures of aluminium on the London Metal Exchange slipped by US$ 20.50 per tonne to stand at US$ 2031 per tonne. Currently, the LME aluminium three-month futures price is up by US$ 259 per tonne or 14.62 per cent since the beginning of 2020.
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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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