NALCO’s aluminium ingot price sees a sharp cut of INR10000/t in line with LME price slump

National Aluminium Company Limited has slashed its aluminium ingot and aluminium products prices by INR 10,000 per tonne or 3.5 per cent on April 28, in line with the continued decrease in LME aluminium benchmark price since April 22. With the latest cut, NALCO’s aluminium ingot price has come in at INR 272,650 – 276,150 per tonne compared to INR 282,650-286,150 per tonne on April 21.

NALCO is currently selling its aluminium wire rod at INR 275,150 – 279,500 per tonne versus INR 285,150-289,500 per tonne a week ago. Aluminium billets price is hovering around INR 276,100 – 278,750 per tonne, facing a downfall of INR 10,000 per tonne from INR 286,100-288,750 per tonne.

NALCO links its aluminium ingot and aluminium products prices to the three-month future price of aluminium on the London Metal Exchange. So, in response to the incessant downfall in LME aluminium price from US$3,262 per tonne on April 12 to US$3,100 per tonne on April 27 (barring an intermittent rise), NALCO has reduced its aluminium prices. On a month-on-month calculation, the LME aluminium benchmark price is down by nearly US$506 per tonne than US$3,606 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.