NALCO’s aluminium ingot price accumulates INR3100/t in five days

National Aluminium Company Limited (NALCO) has increased its aluminium ingot and aluminium products prices, with effect from Wednesday, September 14, following a sharp cut last week, September 9. NALCO’s aluminium ingot price has gained INR 3,100 per tonne from the earlier time to stand at INR 213,250- 216,750 per tonne. On September 9, the price stood at INR 210,150- 213,650 per tonne, down by 7 per cent since the last hike.

NALCO’s aluminium wire rod price has also undergone a rise of INR 3,100 per tonne, with effect from September 14, to come in at INR 216,750- 221,100 per tonne versus INR 213,650- 218,000 per tonne on September 9. The company’s aluminium billets price is currently ranging between INR 217,700- 220,350 per tonne, as against INR 214,600- 217,250 per tonne in the previous week.

NALCO has expanded its aluminium ingot and aluminium products prices in response to growth of the three-month futures of aluminium on the London Metals Exchange for three consecutive working days. From US$2,256 per tonne on September 8, the LME aluminium benchmark price climbed up by 2.37 per cent to US$2,309.50 per tonne on September 13.

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.