National Aluminium Company Limited (NALCO) has reduced its aluminium ingot and aluminium products prices for the third time with effect from Thursday, May 27. NALCO’s aluminium ingot price has come in at INR 196,350-199,850 per tonne after being reduced by INR 4,000 per tonne or 2 per cent from INR 200,350-203,850 per tonne on May 22.
With the latest cut, NALCO’s aluminium wire rod price is ranging between INR 199,850-204,200 per tonne compared to INR 203,850-208,200 per tonne on May 22.
NALCO’s aluminium billets price has also witnessed a cut of INR 4,000 per tonne from INR 203,800-206,450 per tonne to INR 199,800-202,450 per tonne.
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 during May 24-27, increased by US$ 83 per tonne to come in at US$ 2,388 per tonne. This brings the LME aluminium price close to the price of US$ 2,388 per tonne last month. On a year-on-year calculation, the price is up by US$ 884 per tonne or 58.78 per cent from US$ 1,504 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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