NALCO’s aluminium ingot price axed by INR27200/t on May 11 in line with LME price fall to the lowest this year

National Aluminium Company Limited has sharply axed its aluminium ingot and aluminium products prices for the third consecutive time since April 28, in response to the continued downfall in the LME aluminium benchmark price for over a week. More so, on Tuesday, May 10, the LME aluminium benchmark price declined by US$31 per tonne to record a 5-month low at US$2,677 per tonne. Since the beginning of May, the LME price has registered a downfall of US$234.50 per tonne from US$2,911.50 per tonne.

In response to this, NALCO has chopped its aluminium ingot selling price by 10 per cent or INR 27,200 per tonne to INR 239,650 – 243,150 per tonne. The last cut on May 1 was by INR 5,800 per tonne to INR 266850-270,350 per tonne.

NALCO’s aluminium wire rod and billets prices have also witnessed a cut of INR 27,200 per tonne. While the price of wire rod has come in at INR 242,150 – 246,500 per tonne, the billet price is ranging between INR 243,100 – 245,750per tonne.

As mentioned earlier, NALCO links its aluminium ingot and aluminium products prices to the three-month future price of aluminium on the London Metal Exchange.

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.