NALCO grows its aluminium ingot price by 1% to INR229,250- 232,750/t with effect from December 10

National Aluminium Company Limited (NALCO) has increased its aluminium ingot and aluminium products prices, with effect from Friday, December 10, following a cut on December 7. The company, under the ownership of Ministry of Mines, has raised its aluminium ingot price by INR 3,000 per tonne or 1.33 per cent to INR 229,250- 232,750 per tonne. On December 7, the product price stood at INR 226,250-229,750 per tonne, down by INR 5,600 per tonne from the previous day.

NALCO’s aluminium wire rod price has also seen an increase of INR 3,000 per tonne from INR 228,750- 233,100 per tonne on December 7 to INR 231,750- 236,100 per tonne on December 10. Aluminium billets price has come in at INR 232,700- 235,350 per tonne, compared to INR 229,700- 232,350 per tonne on the previous day.

NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which after December 6 increased by US$30 per tonne to stand at US$2,630.50 per tonne as of December 9. On a month-on-month calculation, the price stood up by US$48.50 per tonne from US$2,582 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.