National Aluminium Company Limited (NALCO) has sharply increased its aluminium ingot and aluminium products prices with effect from Tuesday, May 11. NALCO’s aluminium ingot price has witnessed a surge of INR 7,500 per tonne to range between INR 214,350-217,850 per tonne. More than a week ago, on May 1, NALCO’s aluminium ingot price stood at INR 206,850-210,350 per tonne, climbing by INR 1,800 per tonne or 0.88 per cent.
With the latest hike on May 11, NALCO’s aluminium wire rod price stood at INR 217,850-222,200 per tonne, up by INR 7,500 per tonne as well from INR 210,350-214,700 per tonne on May 1.
The company is currently selling its aluminium billets at INR 217,800-220,450 per tonne compared to INR 210,300 – 212,950 per tonne on May 1.
NALCO, like any other Indian aluminium producer, links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which during May 4-11 surged by US$ 115 per tonne from US$ 2,434.50 per tonne to US$ 2,549.50 per tonne. This reflects a month-on-month growth of US$ 295.50 per tonne or 13.11 per cent from US$ 2254 per tonne and year-on-year gain of US$ 1095 per tonne or 75.28 per cent from US$ 1454.50 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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