NALCO’s aluminium ingot price sees a cut of INR5600/t or 2.4% since a hike two weeks ago

National Aluminium Company Limited (NALCO) has reduced its aluminium ingot and aluminium products prices with effect from Tuesday, December 7, following a hike about two weeks ago. The Navratna CPSE has cut its aluminium ingot price by INR 5,600 per tonne or 2.4 per cent to INR 226,250-229,750 per tonne on December 7. On November 24, the price stood at INR 231,850- 235,350 per tonne after being surged by INR 7,800 per tonne.

The latest cut has brought NALCO’s aluminium wire rod price to INR 228,750- 233,100 per tonne, down by INR 5,600 per tonne from INR 234,350- 238,700 per tonne on November 24. Aluminium billets price is currently hovering around INR 229,700- 232,350 per tonne compared to INR 229,700- 232,350 per tonne on November 24.

NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which decreased over two weeks by US$98.50 per tonne from US$2,699 per tonne on November 24 to US$2,600.50 per tonne on December 6. However, on a month-on-month calculation, the price stood up by US$110 per tonne from US$2,490.50 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.