NALCO’s aluminium ingot price increases for the third consecutive time to stand at INR254850-258350/t on January 19
National Aluminium Company Limited (NALCO) has hiked its aluminium ingot and aluminium products prices for the third time in a row, with effect from Wednesday, January 19. The company has raised its aluminium ingot price by INR 5,300 per tonne to the range INR 254,850-258,350 per tonne. On Friday, January 14, NALCO’s aluminium ingot price stood at INR 249,550- 253,050 per tonne, seeing a rise of INR 2,100 per tonne.
With the latest hike, NALCO’s aluminium wire rod price came in at INR 257,350-261,700 per tonne, up by INR 5,300 per tonne from INR 252,050- 256,400 per tonne on January 14. The company’s aluminium billets price also saw a surge of INR 5,300 per tonne from INR 253,000- 255,650 per tonne to INR 258,300- 260,950 per tonne, as of January 19.
NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which on January 17 rose by US$31.50 per tonne to exceed US$3,000 per tonne. The price stood at US$3,009 per tonne but slipped the next day (January 18) by US$3 per tonne to US$3,006 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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