NALCO’s aluminium ingot and products prices see a downfall of INR6300/t after two hikes in a row
After two consecutive hikes since November 11, National Aluminium Company Limited reduced its aluminium ingot and aluminium products prices with effect from Friday, November 19. The decrease could be attributed to the decline in LME aluminium benchmark price during November 16-18. NALCO’s aluminium ingot price came in at INR 224,050-227,550 per tonne, down by INR 6,300 per tonne from INR 230,350-233,850 on November 16.
The latest cut brought the company’s aluminium wire rod price to INR 226,550-230,900 per tonne on November 19 versus INR 232,850-237,200 per tonne on the previous day. Aluminium billets price also saw a downfall of INR 6,300 per tonne on November 19 from INR 233,800-236,450 per tonne to INR 227,500-230,150 per tonne.
NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which decreased by US$70.50 per tonne from US$2,678 per tonne on November 15 to US$2607.50 per tonne on November 18. On a month-on-month calculation, the price stood down by US$572.50 per tonne from US$3,180 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.
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