NALCO sharply cuts its aluminium ingot price by INR6250/t with effect from June 22

National Aluminium Company Limited (NALCO) slashed its aluminium ingot and aluminium product prices by INR 6,250 per tonne with effect from June 22. That brought the company’s aluminium ingot price at INR 199,450-202,950 per tonne compared to 205,650-209,150 per tonne on June 11. NALCO’s aluminium ingot price on June 11 had witnessed a rise of INR 4,700 per tonne or 2.3 per cent.

With the latest cut, NALCO’s aluminium wire rod price has come in at INR 202,950-207,300 per tonne against INR 209,150-213,500 per tonne on June 11. NALCO is currently selling its aluminium billets price at INR 202,900-205,550 per tonne versus 209,100-211,750 per tonne on the previous day.

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 during June 14 -23, plunged by US$ 117.50 per tonne to reach at US$ 2,386.50 per tonne. However, on a month-on-month basis, the price is up by around US$ 81.50 per tonne from 2,305 per tonne and by about US$ 809 per tonne year-on-year from US$ 1,577.50 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.