NALCO’s aluminium ingot price ascends by INR14700/t with effect from December 7
National Aluminium Company Limited (NALCO) has elevated its aluminium ingot and aluminium products prices, effective from December 7, in line with the LME aluminium price hike over a week. NALCO has significantly increased its aluminium ingot price by INR 14,700 per tonne or 6.6 per cent from INR 220,450-223,950 per tonne on November 29 to INR 235,150-238,650 per tonne on December 7.
NALCO has also raised its aluminium wire rod price by INR 14,700 per tonne, with effect from December 7, to sell the product at INR 239,650- 244,000 per tonne versus INR 224,950-229,300 per tonne a week ago. Aluminium billets price is no exception but seen a lift of the same amount with effect from December 7 to be sold at INR 239,600-242,250 per tonne, compared to INR 224,900-227,550 per tonne on November 29.
NALCO links its aluminium ingot and aluminium products prices with the three-month futures of aluminium on the London Metal Exchange, which trended up in a week by US$145.50 per tonne or 6.28 per cent from US$2,315.50 per tonne on November 28 to US$2,461 per tonne on December 6.
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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Next articleChina’s aluminium ingot inventory remains stoic at 500,000 tonnes with no change W-o-W on December 8
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