National Aluminium Company Limited (NALCO) continued to axe its aluminium ingot and aluminium products prices, with effect from Friday, July 15. The company reduced its aluminium ingot price by INR 5,400 per tonne or 2.4 per cent to INR 216,350-219,850 per tonne. A week ago, July 8, NALCO’s aluminium ingot price was at INR 221,750-225,250 per tonne, down by INR 1,700 per tonne from INR 223,450-226,950 per tonne on June 21.
NALCO’s aluminium wire rod price came in at INR 218,850-223,200 per tonne, with effect from July 15, also down by INR 5,400 per tonne from INR 224,250-228,600 per tonne on July 8. Aluminium billets price also experienced a cut of INR 5,400 per tonne from INR 225,200-227,850 per tonne on July 8 to INR 219,800-222,450 per tonne on July 15.
NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which shrank by US$88.50 per tonne over a week from US$2,417.50 per tonne on July 7 to US$2,329 per tonne on July 14.
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.
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