NALCO escalates its aluminium ingot price by INR11300/t with effect from July 21
National Aluminium Company Limited has escalated its aluminium ingot and aluminium products prices by INR 11,300 per tonne or 2.6 per cent, since the last cut on July 15. With effect from Thursday, July 21, NALCO’s aluminium ingot price has come in at INR 227,650-231,150 per tonne versus INR 221,750-225,250 per tonne on July 15.
NALCO’s aluminium wire rod price has also been heightened by INR 11,300 per tonne from INR 218,850-223,200 per tonne on July 15 to INR 230,150- 234,500 per tonne on July 21. Experiencing the same amount of hike, NALCO’s aluminium billets price is standing at INR 231,100- 233,750 per tonne, as against 219,800-222,450 per tonne on July 15.
NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which during July 15-20 surged by US$136 per tonne from US$2,320.50 per tonne to US$2,456.50.
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 benchmark price slumps by US$30.5/t to US$2,426/t; SHFE price closes at US$2,657/t
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