National Aluminium Company Limited (NALCO) has cut its aluminium ingot and aluminium products prices by INR 4,500 per tonne, with effect from Friday, March 10. This has brought the company’s aluminium ingot price to INR 219,650-223,150 per tonne compared to INR 224,150-227,650 per tonne on February 28.
With the latest cut, NALCO’s aluminium billets price has come in at INR 224,100-226,750 per tonne, down by INR 4,500 per tonne or 1.95 per cent from INR 228,600-231,250 per tonne on February 28. Aluminium wire rod price stands at INR 224,150-228,500 per tonne as of March 10 versus INR 228,650-233,000 per tonne since the previous cut.
NALCO links its aluminium ingot and aluminium products prices to the three month futures of aluminium on the London Metals Exchange, which fell through March by US$73 per tonne from US$2,364 per tonne to US$2,291 per tonne as of March 9.
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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