NALCO’s aluminium ingot price sees a downfall of INR3400/t with effect from August 6

National Aluminium Company Limited (NALCO) has reduced its aluminium ingot and aluminium product prices with effect from Friday, August 6, following a sharp hike in the previous week. NALCO’s aluminium ingot price is currently ranging between INR 221,850-225,350 per tonne, down by INR 3,400 per tonne from 225,250-228,750 on July 31.

NALCO’s aluminium wire rod price has also seen a cut of INR 3,400 per tonne with effect from August 6 and has come in at INR 224,350-228,700 per tonne. On July 31, the price was at INR 227,750-232,100 per tonne.

NALCO is now selling its aluminium billets at INR 225,300-227,950 per tonne in comparison with INR 227,750-232,100 per tonne on July 31.

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 August 2-6 saw a decline of US$ 16.50 per tonne from US$ 2,635 per tonne to US$ 2,618.50 per tonne. However, On a month-on-month basis, the price is up by US$ 89 per tonne from US$ 2,529.50 per tonne and on a year by US$ 896.50 per tonne from US$ 1,722 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.