National Aluminium Company Limited has hiked its aluminium ingot price, with effect from November 1, following a trim in the previous week. The company is currently selling its ingot at INR 217,050-220,550 per tonne, up by INR 6,600 per tonne or 3 per cent from INR 210,450-213,950 per tonne on October 26.
Among the company’s aluminium products prices, its billets price has also seen an increase of INR 6,600 per tonne, with effect from November 1, to stand at INR 221,500-224,150 per tonne versus INR 214,900-217,550 per tonne in the earlier week.
However, NALCO’s aluminium wire rod price has shown an exception by gaining INR 1,000 per tonne more than ingot and billets. The price is ranging between INR 221,550-225,900 per tonne, up by INR 7,600 per tonne or 3.5 per cent from INR 213,950-218,300 per tonne.
Like other Indian aluminium giants, NALCO links its aluminium prices to the three-month futures of aluminium on the London Metal Exchange, which grew by US$48.50 per tonne on November 1 from US$2,197 per tonne to US$2,245.50 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.
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