NALCO sharply reduces its aluminium ingot price by INR18500/t or 6.8% with effect from October 23

National Aluminium Company Limited has sharply reduced its aluminium ingot and aluminium products prices with effect from Saturday, October 23, following a significant rise of INR 24,300 per tonne on October 15. With the latest cut, NALCO’s aluminium ingot price has come in at INR 253350-256850 per tonne, down by INR 18,500 per tonne or 6.8 per cent from INR 271,850-275,350 per tonne.

NALCO’s aluminium wire rod price has also seen a plunge of INR 18,500 per tonne, which has brought the price from INR 274,350-278,700 per tonne to INR 255,850-260,200 per tonne. Aluminium billets price has come in at INR 256,800-259,450 per tonne compared to INR 275,300-277,950 per tonne on October 15.

NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which has decreased by US$234 per tonne from US$3,180 per tonne on October 18 to US$2,946 per tonne on October 22. On a month-on-month calculation, the price is up by only US$59 per tonne from US$2,887 per tonne, and on a year-on-year basis, it is higher by US$1,118 per tonne than US$1,828 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.