NALCO reports a steep fall of aluminium ingot selling price to INR216150-219650/t

National Aluminium Company Limited further decreased its aluminium ingot and aluminium products prices significantly on Saturday, November 6, more than a week after the last cut on October 28. The latest slash brought the company’s aluminium ingot price to 216,150-219,650 per tonne versus INR 234,250-237,750 per tonne on October 28. That was a steep fall of INR 18,100 per tonne or 7.7 per cent.

NALCO’s aluminium wire rod price came in at INR 218,650-223000 per tonne, down by INR 18,100 per tonne from INR 236,750-241,100 per tonne.

NALCO is currently selling its aluminium billets at INR 219,600-222,250 per tonne, also less by INR 18,100 per tonne than the last selling price of INR 237,700-240,350 per tonne on October 28.

NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which from October 28 to November 5 plunged by US$230.50 per tonne to close at US$2490.50 per tonne. So, on a month-on-month calculation, the price stood down by US$404 per tonne from US$2,894.50 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.