National Aluminium Company Limited (NALCO) has yet again cut its aluminium ingot price significantly, with effect from Thursday, October 28. In tandem with the incessant decline in LME aluminium benchmark price, NALCO has reduced its ingot price by INR 19,100 per tonne from INR 253,350-256,850 per tonne to INR 234,250-237,750 per tonne. On the previous day, October 23, NALCO’s aluminium ingot price had seen a slash of INR 18,500 per tonne or 6.8 per cent.
NALCO’s aluminium wire rod price has also witnessed a sharp cut of INR 19,100 per tonne or 7.4 per cent to INR 236,750-241,100 per tonne. The company’s aluminium billets price is currently standing at INR 237,700-240,350 per tonne after being reduced from INR 256,800-259,450 per tonne.
NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which after October 22 decreased by US$242 per tonne to come in at US$2,704 per tonne as of October 27. So, on a month-on-month calculation, the price is down by only US$184 per tonne from US$2,888 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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