NALCO now selling its aluminium ingot at INR1400/t higher with effect from November 13

National Aluminium Company Limited (NALCO) has further increased the prices of its aluminium ingot and aluminium product, although lesser than the previous week, with effect from Friday, November 13. Compared with the hike of INR 4,500 per tonne on November 4, NALCO has raised its aluminium ingot price on November 13 by INR 1,400 per tonne or nearly 1 per cent from INR 162,650-166,150 per tonne to INR 164,050-167,550 per tonne.

With the latest hike, NALCO’s aluminium billets price has come in at INR 167,500-170,150 per tonne, also up by INR 1,400 per tonne from INR 166100- 168750 per tonne.

NALCO is selling its aluminium wire rod at INR 167550-171900 per tonne at the present as against 166150-170500 per tonne on November 4.

NALCO links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which since November 4, has grown by US$ 27.5 per tonne or 1.47 per cent to stand at US$ 1904.50 per tonne, as of November 12. LME aluminium three-month futures price is thus currently up by US$ 132.50 per tonne or 7.48 per cent since the beginning of 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.