NALCO’s aluminium ingot price builds up INR4100/t on August 26 in response to LME price uptrend
National Aluminium Company Limited (NALCO) has increased its aluminium ingot and aluminium products prices for the first time this month on August 26, following two consecutive cuts on August 1 and August 18. NALCO has raised its aluminium ingot price by INR 4,100 per tonne or 1.8 per cent to INR 226,050-229,550 per tonne. On August 18, the price stood at INR 221,950- 225,450 per tonne, down by INR 4,700 per tonne from the previous day.
NALCO’s aluminium wire rod price has also seen a hike of INR 4,100 per tonne over a week, reaching INR 229,550-233,900 per tonne on August 26 versus INR 225,450- 229,800 per tonne on August 18. Aluminium billets price has come in at INR 230,500-233,150 per tonne, accumulating the same amount over a week from INR 226,400- 229,050 per tonne.
NALCO has increased its aluminium ingot and aluminium products prices in response to the uptrend in aluminium price on the London Metals Exchange. In less than a week, the LME aluminium price has gained US$66.5 per tonne, arriving at US$2,442.50 per tonne as of August 25.
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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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