National Aluminium Company Limited (NALCO) has expanded its aluminium ingot and aluminium product prices for the sixth time in a row with effect from Tuesday, November 17. Compared with the hike of INR 1,400 per tonne on November 13, NALCO has increased its aluminium ingot price by INR 3,000 per tonne or 1.83 per cent today. Hence, the company is now selling its aluminium ingot at INR 167,050 – 170,550 per tonne as against INR 164,050-167,550 per tonne on November 13.
NALCO has also increased the price of its aluminium wire rod price by INR 3,000 per tonne from INR 167,550 – 171,900 per tonne on November 13 to INR 170,550 – 174,900 per tonne on November 17.
With the last hike, NALCO’s aluminium billet price has come in at INR 170,500 – 173,150 per tonne today, as against INR 167,500-170,150 per tonne last Friday.
NALCO links the prices of its aluminium ingot and aluminium products to the three-month futures of aluminium on the London Metal Exchange, which since Friday, November 13, increased from US$ 1918 per tonne to US$ 1933 per tonne. LME aluminium three-month futures price is thus currently up by US$ 161 per tonne or 9.09 per cent since the beginning of 2020.
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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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