National Aluminium Company Limited (NALCO) has slashed its aluminium ingot and aluminium products prices, with effect from March 30, following two consecutive significant hikes on March 22 and 25. NALCO has cut its aluminium ingot price by INR 8,200 per tonne on Wednesday to the range of INR 309,250- 312,750 per tonne versus INR 317,450-320,950 per tonne on March 25.
NALCO’s aluminium wire rod price has also been reduced by INR 8,200 per tonne, in line with the downtrend in LME aluminium benchmark price since March 25 ranging between US$3,619 per tonne and US$3,583 per tonne. But nonetheless, the price is still up by US$133 per tonne month-on-month comparing to US$3,450 per tonne.
NALCO’s aluminium billets price is standing at INR 312,700- 315,350 per tonne, also down by INR 8,200 per tonne from INR 320,900-323,550 per tonne on the previous day.
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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