NALCO’s aluminium ingot price declines by INR1400/t with effect from December 18 after an interim hike
National Aluminium Company Limited (NALCO) has reduced the prices of its aluminium ingot and aluminium products with effect from Friday, December 18, after an interim hike on December 15. With the latest cut, NALCO’s aluminium ingot price has come in at INR 172,350-175,850 per tonne, down by INR 1400 per tonne or per cent from INR 173,750–177,250 per tonne on December 15.
NALCO’s aluminium wire rod price has also been cut by INR 1400 per tonne from INR 177,250-181,600 per tonne on December 15 to INR 175,850-180,200 per tonne on December 18. NALCO’s aluminium billets price is standing at INR 175,800- 178,450 per tonne as against INR 177,200-179,850 per tonne on December 15.
NALCO, like any other Indian aluminium producers, links its aluminium product and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which after December 15 grew to US$ 2049 per tonne, as of Friday, December 18. So, currently, the LME aluminium three-month futures price is up by US$ 277 per tonne or 15.63 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.
LME aluminium price edged higher this week by $6.5/t to settle at $2049/t; SHFE rose by $28/t to $2554/t
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