NALCO hikes its aluminium ingot price by INR10500/t or 4.7% with effect from November 16
National Aluminium Company Limited (NALCO) has hiked its aluminium ingot and aluminium product prices for the second time in a row, with effect from Tuesday, November 16. The company’s aluminium ingot price has come in at INR 230,350-233,850 per tonne after being sharply increased by INR 10,500 per tonne from INR 219,850-223,350 per tonne on November 11.
The latest increase has brought the company’s aluminium wire rod price to INR 232,850-237,200 per tonne, also up by INR 10,500 per tonne from INR 222,350-226,700 per tonne. Aluminium billets price is hovering around INR 233,800-236,450 per tonne versus INR 223,300-225,950 per tonne on November 11.
NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which increased from US$2,645.50 per tonne on November 11 to US$2,678 per tonne on November 15. On a month-on-month calculation, the price continued to stand down by US$485 per tonne from US$3,163 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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