NALCO’s aluminium ingot price continues to rise by INR6300/t or 2.4% with effect from January 22
National Aluminium Company Limited (NALCO) increased its aluminium ingot and aluminium products prices for the fourth time in a row on Saturday, January 22. The company raised its aluminium ingot price by INR 6,300 per tonne or 2.4 per cent from INR 254,850-258,350 per tonne on January 19 to INR 261,150- 264,650 per tonne on Saturday, January 22.
NALCO’s aluminium wire rod price also saw a surge of INR 6,300 per tonne to INR 263,650- 268,000 per tonne, with effect from January 22. Aluminium billets price witnessed no exception but a hike of INR 6,300 per tonne from INR 258,300- 260,950 per tonne on January 19 to INR 264,600- 267,250 per tonne on January 22.
NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which from January 18 to 21 grew by US$73.50 per tonne to stand at US$3,079.50 per tonne. That brought the price to a month-on-month hike of US$383.50 per tonne from US$2,696 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.
LME aluminium price slips by US$30/t to score at US$3,079.50/t; SHFE price drops by US$44/t
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