NALCO again raises its aluminium wire rod and billets prices by INR5400/t on February 26
National Aluminium Company Limited (NALCO) further expanded its aluminium products and aluminium ingot prices for the fifth consecutive time on Friday, February 26. Similar to the previous week, on February 19, the company raised its aluminium wire rod price by INR 5,400 per tonne to INR 185,250- 188,750 per tonne, as of February 26.
With the latest hike, NALCO’s aluminium billets price came in at INR 188,700- 191,350 per tonne, also up by INR 5,400 per tonne from INR 183,300 – 185,950 per tonne on February 19.
NALCO’s aluminium ingot price hovered INR 185,250- 188,750 per tonne on February 26 compared with INR 179,850 – 183,350 per tonne on February 19.
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 after February 19 soared by US$ 88 per tonne to reach at US$ 2,223 per tonne, as of February 25. On a year-on-year basis, the three-month futures of aluminium on the London Metal Exchange are currently up by US$ 538 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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