NALCO’s aluminium ingot price sees the first cut this month by INR2900/t with effect from Nov.19

National Aluminium Company Limited (NALCO) has cut its aluminium ingot and aluminium products prices, effective from Saturday, November 19, after three consecutive hikes since the beginning of the month. NALCO’s aluminium ingot price has seen a trim of INR 2,900 per tonne from 227,950-231,450 per tonne on November 16 to INR 225,050-228,550 per tonne as of November 19.

NALCO’s aluminium wire rod and billets prices have also witnessed a cut of INR 2,900 per tonne, each. The latest cut has brought the company’s aluminium wire rod price to INR 229,550-233,900 per tonne, while that of the billets price to INR 229,500- 232,150 per tonne.

NALCO’s aluminium price cut with effect from November 19 followed a drop of US$50.50 per tonne in the three month futures of aluminium on the London Metal Exchange to US$2,342.50 per tonne as of November 17.

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.