NALCO grows its aluminium ingot price by INR2600/t w.e.f. October 7 after a cut last week
National Aluminium Company Limited has increased its aluminium ingot and aluminium products prices with effect from Thursday, October 7, following a decline of INR 1,400 per tonne on October 1. NALCO’s aluminium ingot price is now standing at INR 247,550- 251,050 per tonne, up by INR 2,600 per tonne from INR 244,950-248,450 per tonne on the previous day.
NALCO’s aluminium wire rod price has also witnessed a hike of INR 2,600 per tonne from INR 247,450-251,800 on October 1 to INR 250,050- 254,400 per tonne on October 7. Aluminium billets price is settled at INR 251,000- 253,650 per tonne, compared to INR 248,400-251,050 per tonne a week ago.
NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which grew by US$51 per tonne or 1.78 per cent during October 1-7 to stand at US$2,916 per tonne. On a month-on-month calculation, the price stood up by US$175.50 per tonne from US$2,740.50 per tonne, and on a year-on-year basis, it was higher by US$1,170.50 per tonne than US$1,745.50 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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