NALCO’s aluminium ingot price sees a cut of INR3400/t on March 1 after five hikes in a row till February 26
National Aluminium Company Limited (NALCO) reduced its aluminium ingot and aluminium products prices with effect from Monday, March 1, after raising them five times in a row till February 26, 2021. NALCO’s aluminium ingot price came in at INR 181,850 – 185,350 per tonne on March 1, down by INR 3,400 tonnes from INR 185,250- 188,750 per tonne on February 26.
The company’s aluminium billets price also faced a decline of INR 3,400 per tonne on March 1 from INR 188,700- 191,350 per tonne to INR 185,300 – 187,950 per tonne. NALCO’s aluminium wire rod price ranged between INR 185,350 – 189,700 per tonne.
NALCO, like any other Indian aluminium producers, links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which fell on February 26 to US$ 2202.50 per tonne and then sequentially to US$ 2154.50 per tonne on March 1.
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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