National Aluminium Company has decreased its aluminium ingot and aluminium product prices with effect from Saturday, July 18, following a hike on July 10. The company has cut its aluminium ingot price by INR 2,700 per tonne or 1.88 per cent to INR 140,750-144,250 per tonne. After the last hike with effect from July 10, the company sold its aluminium ingot at INR 143,450-146,950 per tonne.
Nalco’s aluminium billets price after the latest cut has come in at INR 144,200-146,850 per tonne, also down by INR 2,700 per tonne or 1.84 per cent from INR 146,900-149,550 per tonne as of July 10. The company’s aluminium wire rod price is now at INR 144,250-148,600 per tonne after the cut from INR 146,950–151,300 per tonne.
Like any other major Indian aluminium producers, Nalco links its aluminium prices to the three-month futures of the metal on the London Metal Exchange. The three-month aluminium future price on LME recorded continued a decline from US$ 1664.50 per tonne to US$ 1618 per tonne during July 14-17. Currently, overall price of the three-month futures of aluminium on LME is down by 8.69 per cent in 2020 so far.
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.
source https://www.alcircle.com/news/nalco-decreases-aluminium-ingot-price-by-nearly-2-to-inr-140-750-144-250-t-w-e-f-july-18-57471
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