National Aluminium Company Limited (NALCO) has decreased its aluminium ingot price by INR 4,000 per tonne with effect from Friday, July 23. This has brought the price to INR 211,250-214,750 per tonne versus INR 215,250- 218,750 per tonne on last Saturday, July 17.

NALCO’s aluminium billets price has also seen a plunge of INR 4,000 per tonne or 1.86 per cent from INR 218,700- 221,350 per tonne on July 17 to INR 214,700-217,350 per tonne on July 23.

Meanwhile, NALCO’s aluminium wire rod price has witnessed a cut of INR 5,000 per tonne or 2.2 per cent on July 23. The price is thus hovering around INR 213,750-218,100 per tonne in comparison to INR 218,750- 223,100 per tonne on July 17.

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 July 19-22, increased by US$ 24 per tonne from US$ 2,425 per tonne to US$ 2,449 per tonne. On a month-on-month basis, the price is up by US$ 73.50 per tonne from US$ 2,375.50 per tonne and on year by about US$ 798 per tonne from US$ 1,651 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.