National Aluminium Company Limited (NALCO) has increased its aluminium ingot and aluminium products prices, with effect from Thursday, February 23, after several cuts since February 7, 2023. This week, the company has lifted its aluminium ingot price by INR 1,600 per tonne to INR 228,150-231,650 per tonne versus INR 226,550-230,050 per tonne on February 16.
NALCO’s aluminium wire rod price has also seen an increase of INR 1,600 per tonne to INR 232,650-237,000 per tonne, following a cut a week ago to INR 231,050 -235,400 per tonne. Aluminium billets price stands at INR 232,600-235,250 per tonne, compared to INR 231,000-233,650 per tonne.
NALCO links its alumiium ingot and aluminium products prices to the three month of futures of aluminium on the London Metal Exchange, which surged by US$95.50 per tonne during February 17-21 and then plunged in the next two days to US$2,368.50 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.