NALCO grows its aluminium ingot price by INR3700/t w.e.f. November 11 after three consecutive cuts
National Aluminium Company Limited (NALCO) has increased its aluminium ingot and aluminium products prices with effect from November 11, following three consecutive cuts since October 25. The latest hike has brought the company’s aluminium ingot price to INR 219,850-223,350 per tonne versus INR 216,150-219,650 per tonne on November 6. That reflected an increase of INR 3,700 per tonne.
NALCO’s aluminium wire rod price has come in at INR 222,350-226,700 per tonne, also up by INR 3,700 per tonne from INR 218,650-223000 per tonne on November 6. Aluminium billets price has seen a rise of INR 3,700 per tonne as well from INR 219,600-222,250 per tonne to INR 223,300-225,950 per tonne.
NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which during October 8-11 surged by US$115 per tonne to close at US$2,645.50 per tonne. However, on a month-on-month calculation, the price stood down by US$374.50 per tonne from US$3,020 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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