NALCO raises its aluminium products price by INR 3,400/t
National Aluminium Company Limited (NALCO) has increased its aluminium products price for the second time in a row. With effect from Saturday, 17 October 2020, NALCO's aluminium ingots price came in at INR 157,550 – 161,050 per tonne, an increase of INR 3,400 per tonne from INR 154,150 – 157,650 per tonne on October 13.
The company is selling its aluminium billets at INR 161,000- 163,650 per tonne on October 17, registering a hike of INR 3,400 per tonne from INR 157,600- 160,250 per tonne on October 13.
Aluminium wire rods price stands at INR 161,050-165,400 per tonne as of October 17, from INR 162,000-157,650 per tonne on October 13.
Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The LME aluminium price has increased by more than 1% 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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