National Aluminium Company Limited (NALCO) has decreased its aluminium ingot and aluminium products prices with effect from Wednesday, September 1. After rebounding by INR 8,000 per tonne on August 25, NALCO’s aluminium ingot price has reduced by INR 2,000 per tonne or 0.88 per cent from INR 226,750-230,250 per tonne on August 25 to INR 224,750-228,250 per tonne on September 1.
NALCO’s aluminium wire rod price has come in at INR 227,250-231,600 per tonne, declining by INR 2,000 per tonne from INR 229,250-233,600 per tonne in the previous week. The company’s aluminium billets price has also seen a cut of INR 2,000 per tonne to stand at INR 228,200-230,850 per tonne with effect from September 1.
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 declined by US$46.50 per tonne to US$2,667.50 on September 1 after reaching a peak of US$2,714 per tonne on the previous day. On a month-on-month calculation, the price stood up by about US$32.50 per tonne from 2,635 per tonne, and on a year-on-year basis, it was higher by US$886 per tonne than US$ 1,781.50 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.
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