NALCO’s aluminium wire rod and billets prices see a cut of more than 1% with effect from June 8
National Aluminium Company Limited (NALCO) has reduced its aluminium products and aluminium ingot prices with effect from Tuesday, June 8, a week after it significantly raised its aluminium products prices on June 1. NALCO’s aluminium wire rod price has witnessed a cut of INR 3,400 per tonne or 1.60 per cent to INR 204,450-208,800 per tonne.
NALCO’s aluminium billets price has also been reduced by INR 3,400 per tonne from INR 207,800-210,450 per tonne on June 1 to INR 204,400-207,050 per tonne on June 8.
With the latest cut, NALCO’s aluminium ingot price has come in at INR 200,950-204,450 per tonne against INR 204,350-207,850 per tonne.
NALCO, like any other Indian aluminium producer, links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which during June 2 – 8, inched down by US$ 3 per tonne to close at US$ 2,439 per tonne. This brings the LME aluminium price month-on-month lower by about US$ 79.50 per tonne but up year-on-year by US$ 869.50 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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