NALCO repeats the cut of INR10300/t from its aluminium ingot & products prices with effect from June 16

National Aluminium Company Limited (NALCO) has again slashed INR 10,300 per tonne like last week from its aluminium ingot and aluminium products prices, marking the third consecutive cut since May 28. With effect from June 16, NALCO’s aluminium ingot price came in at INR 233,650-237150 per tonne versus INR 243,950 – 247,450 per tonne on June 8.

NALCO’s aluminium wire rod price has also witnessed a cut of INR 10,300 per tonne, with effect from June 16, to stand at INR 236,150-240,500 per tonne. A week ago, the price hovered around INR 246,450 – 250,800 per tonne.

Aluminium billets price stood at INR 237,100-239750 per tonne as of June 16, seeing the same amount of cut from INR 247,400 – 250,050 per tonne last week.

NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metals Exchange, which after declining ceaselessly since June 8, came in at US$2,500.50 per tonne as of June 16, down by US$265 per tonne from last Wednesday and the lowest through the year.

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.