NALCO’s aluminium ingot price sees a sharp fall of INR8100/t with effect from August 20

National Aluminium Company Limited (NALCO) sharply cut its aluminium ingot and aluminium products prices, with effect from Friday, August 20, following a hike of 2.25 per cent on Tuesday, August 17. The company’s aluminium ingot price witnessed a slash of INR 8,100 per tonne or 3.57 per cent from INR 226,850-230,350 per tonne on August 17 to INR 218,750- 222,250 per tonne on August 20.

NALCO’s aluminium wire rod price is ranging between 221,250- 225,600 per tonne since August 20 after seeing a cut of INR 8,100 per tonne from INR 229,350-233,700. NALCO’s aluminium billets selling price is at INR 222,200- 224,850 per tonne, also down by INR 8,100 per tonne from INR 230,300-232,950 per tonne on August 17.

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 17-20 saw a decline of US$ 64 per tonne from US$ 2,633 per tonne to US$ 2,569 per tonne. However, on a month-on-month basis, the price is up by US$ 144.50 per tonne from US$ 2,424.50 per tonne, and on a year, increased by US$ 813.50 per tonne from US$ 1,755.50 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.