NALCO hikes its aluminium ingots price by INR 3,000/t
National Aluminium Company Limited (NALCO) has increased its aluminium products price for the seventh time in a row. With effect from Thursday, 19 November 2020, the company’s aluminium ingots price came in at INR 170,050 – 173,550 per tonne, a growth of INR 3,000 per tonne from INR 167,050 – 170,550 per tonne on November 17.
The company is selling its aluminium billets at INR 173,500- 176,150 per tonne on November 19. That was up by INR 3,000 per tonne from INR 170,500 – 173,150 per tonne on November 17. Aluminium wire rods price stood at INR 173,550-177,900 per tonne, from INR 170,550 – 174,900 per tonne.
Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price on LME has increased by more than 8% so far in 2020.
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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