Nalco continues to increase its aluminium ingots prices by nearly 1%
National Aluminium Company (NALCO) reportedly continued to increase its aluminium ingots prices by nearly 1 per cent for the second time in the week gone by.
After the hike, the prices of ingots came in at INR153,950 per tonne to INR 157,450 per tonne, with effect from Tuesday, January 21.
In the previous hike, with effect from January 17, NALCO’s aluminium ingots prices stood at INR 152,650 per tonne to INR 156,150 per tonne.
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Like most aluminium producers, Nalco links its prices of aluminium products to the three-month futures of aluminium on London Metal Exchange, which are down over 1% so far in Jan-Mar.
Aluminium products and alumina account for nearly two-thirds of NALCO's gross topline, while the sales of chemicals contribute to the rest. The company also produces wire rods, billets, coils, and chequered sheets.
LME aluminium closed the week slightly lower on Friday
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