After almost two weeks and close observation to the fluctuating LME aluminium price trend, NALCO revised its aluminium ingot and aluminium products prices on July 8. As per the price chart revealed, NALCO slightly cut its aluminium ingot price by INR 1,700, following two consecutive significant strokes last month. The company’s aluminium ingot price is now ranging between INR 221,750-225,250 per tonne versus INR 223,450-226,950 per tonne on June 21.
NALCO’s aluminium wire rod price is also reduced by INR 1,700 per tonne from INR 225,950-230,300 per tonne on June 21 to INR 224,250-228,600 per tonne on July 8. Aluminium billets price also saw a cut of INR 1,700 per tonne to stand at INR 225,200-227,850 per tonne. On June 21, the price came in at 226,900-229,550 per tonne, seeing a downfall of INR 10,200 per tonne.
NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which from US$2,519.50 per tonne on Jun 21 decreased by 4.05 per cent to stand at US$2,417.50 per tonne as of July 7.
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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