NALCO hikes its aluminium ingot price by over INR10,000/t to INR242,550-246,050/t w.e.f. December 24
National Aluminium Company Limited (NALCO) significantly hiked its aluminium ingot and aluminium products prices on Friday, December 24. The company’s aluminium ingot price came in at INR 242,550-246,050 per tonne, up by INR 10,600 per tonne or 4.5 per cent from INR 231,950- 235,450 per tonne on December 21.
NALCO’s aluminium wire rod price also saw a jump of INR 10,600 per tonne from INR 234,450-238,800 per tonne on December 21 to INR 245,050-249,400 per tonne on December 24. Aluminium billets price range between INR 246,000-248,650 per tonne, compared to INR 235,400- 238,050 per tonne on December 21.
NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which from December 21 to December 24, surged by US$152 per tonne to stand at US$2,848 per tonne. On a month-on-month calculation, the price recorded a growth of nearly US$149 per tonne or 4.5 per cent from US$2,699 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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