NALCO's aluminium ingot price declines by INR1800/t w.e.f November 26 after seven consecutive rises
National Aluminium Company Limited (NALCO) has cut the prices of its aluminium ingot and aluminium products with effect from Thursday, November 26, after raising them for seven times in a row till November 19. The Navratna Group has reduced its aluminium ingot price by INR 1,800 per tonne or 1.06 per cent from INR 170,050 – 173,550 per tonne on November 19 to INR 168,250-171,750 per tonne, as of November 26.
NALCO’s aluminium wire rod price has come in at INR 171,750- 176,100 per tonne on November 26, also down by INR 1,800 per tonne from INR 173,550-177,900 per tonne on November 19.
The price of NALCO’s aluminium billets has also been cut by INR 1,800 per tonne from INR 173,500- 176,150 per tonne to INR 171,700- 174,350 per tonne, as of November 26.
Like Hindalco and Vedanta, NALCO also links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which after November 19, decreased by US$ 16 per tonne from US$ 1983 per tonne to US$ 1967 per tonne, as of November 25.
Nonetheless, LME aluminium three-month futures price is currently up by US$ 195 per tonne or 11 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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