NALCO aluminium ingot price grows sharply by over 4% to reach at 212,850-216,350/t on June 30
National Aluminium Company Limited (NALCO) sharply increased its aluminium ingot and aluminium products prices by INR 9,600 per tonne or 4.6 per cent on Wednesday, June 30. That brought its aluminium ingot price at INR 212,850-216,350 per tonne in comparison with 203,250-206,750 per tonne on Friday, June 25.
Aluminium wire rod price came in at INR 216,350-220,700 per tonne with effect from June 30 against INR 206,750-211,100 per tonne on June 25. NALCO’s aluminium billets price also saw a hike of INR 9,600 per tonne from INR 206,700-209,350 per tonne to INR 216,300-218,950 per tonne as of June 30.
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 after June 25 rose by US$ 72 per tonne to stand at US$ 2,523 per tonne as of June 30. On a month-on-month basis, the price further stood up by around US$ 118.50 per tonne from 2,404.50 per tonne and on year by about US$ 921 per tonne from US$ 1,602 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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