NALCO aluminium ingot price gains INR3900/t to stand at INR215,150- 218,650/t this week
National Aluminium Company Limited (NALCO) has increased its aluminium ingot and aluminium product prices with effect from Wednesday, July 28, following a cut on July 23. The hike has brought in the aluminium ingot price at INR 215,150- 218,650 per tonne, up by INR 3,900 per tonne or 1.85 per cent from INR 211,250-214,750 per tonne on July 23.
NALCO’s aluminium wire rod price has also seen a rise of INR 3,900 per tonne with effect from July 28 from INR 213,750-218,100 per tonne to INR 217,650- 222,000 per tonne. NALCO's aluminium billets price has come in at INR 218,600- 221,250 per tonne, in comparison with INR 214,700-217,350 in the previous week.
NALCO, like any other Indian aluminium producer, links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which during July 23-28 grew by US$ 24 per tonne from US$ 2,492 per tonne to US$ 2,516 per tonne. On a month-on-month basis, the price is up by US$ 58 per tonne from US$ 2,458 per tonne and on a year by US$ 845 per tonne from US$ 1,671 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.
LME aluminium price surged by US$124.50/t this week to settle at US$2624/t; SHFE price grew 1.72% to US$3077/t
Next articleWeekly update: Aluminium ingot price in China saw mixed performance over the week; Alumina price ended flat
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