NALCO’s aluminium ingot price further increases to INR174,450-177,950/t with effect from February 13
National Aluminium Company Limited (NALCO) increased its aluminium ingot and aluminium products prices for the second consecutive time last week on Saturday, February 13, albeit slower than on February 10. The company’s aluminium ingot price was raised by INR 2,200 per tonne to INR 174,450 - 177,950 per tonne, compared to the hike of INR 4,600 per tonne to INR 172,250 - 175,750 per tonne on February 10.
NALCO’s aluminium wire rod price, as of February 13, came in at INR 177,950 - 182,300 per tonne, also up by INR 2,200 per tonne from INR 175,750 - 180,100 per tonne. Aluminium billets price stood at INR 177,900 - 180,550 per tonne against INR 175,700 – 178,350 per tonne on Thursday.
NALCO, like any other Indian aluminium producers, links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which after February 10, continued to increase to reach at US$ 2076 per tonne, as of February 12. On a year-on-year basis, the three-month futures of aluminium on the London Metal Exchange are currently up by US$ 369 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 closed Friday’s trading at US$ 2076/t
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