NALCO increases its aluminium prices by over INR4000/t with effect from June 6
National Aluminium Company Limited (NALCO) increased its aluminium prices with effect from Saturday, June 6. With the latest hike, NALCO's prices of aluminium ingots came in at INR 136,750-140,250 per tonne, up INR 4,200 or 3 per cent from INR 132,550-136,050 per tonne on May 9.
The prices of aluminium billets also grew by 3 per cent from INR 136,000 – 138,650 per tonne on May 9 to INR 140,450-142,850 per tonne on June 6. The aluminium wire rods prices, as of Saturday, June 6, stood at INR 141,250-145,050 per tonne.
Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium are down nearly 14% so far in 2020 due to slower global demand following the coronavirus outbreak. Aluminium prices are expected to remain under pressure due to the Coronavirus pandemic.
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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