A week after reducing the aluminium ingot price by INR 2,000 per tonne, National Aluminium Company Limited (NALCO) has sharply increased the price of its ingot with effect from Tuesday, September 7. Seeing a rise of INR 6,400 per tonne or 2.80 per cent on September 7, NALCO’s aluminium ingot price is hovering around INR 231,150-234,650 per tonne in comparison with INR 224,750-228,250 per tonne on September 1.
NALCO’s aluminium wire rod price has also been increased by INR 6,400 per tonne from INR 227,250-231,600 per tonne to INR 233,650-238,000 per tonne. The company’s aluminium billets price is currently standing at INR 234,600- 237,250 per tonne, 2.80 per cent more than INR 228,200-230,850 per tonne last week.
NALCO, like any other Indian aluminium producer, links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which again rose to 10-year high at US$2,745.50 per tonne on September 6, following military coup in Guinea that fuelled concerns over raw material supply for aluminium smelting. On a month-on-month calculation, the LME aluminium price is up by US$127 per tonne from 2,618.50 per tonne, and on a year-on-year basis, it is higher by US$982.50 per tonne than US$ 1,763 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.
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