NALCO’s aluminium prices shrink by INR2000/t on January 16 in line with sluggish LME aluminium benchmark price

National Aluminium Company Limited (NALCO) has cut its aluminium ingot and products prices with effect from Saturday, January 16, following a significant hike ten days ago on January 6. According to the company’s price update, aluminium ingot price has come in at INR 169,550-173,050 per tonne, down by INR 2000 per tonne from INR 171,550-175,050 per tonne on January 6. Last time, Nalco’s aluminium ingot price was increased by INR 4,100 per tonne from INR 167,450-170,950 per tonne on January 1.

With the latest price slash, NALCO’s aluminium wire rod price is ranging between INR 173,050- 177,400 per tonne and aluminium billets price between 173000- 175650 per tonne, recording a decrease of INR 2,000 per tonne as well.

NALCO, like any other Indian aluminium producers, links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which after January 6 decreased to US$ 2000.50 per tonne from US$ 2062.50 per tonne. Currently, the LME aluminium three-month futures price is up by US$ 222 per tonne or 12.48 per cent on a year-on-year basis.

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.