National Aluminium Company Limited (NALCO) has raised its aluminium ingot and aluminium products prices significantly with effect from Thursday, February 11, after reducing them last week. NALCO’s data shows its aluminium ingot price has soared by INR 4,600 per tonne to come in at INR 172,250 - 175,750 per tonne as of February 11. Last week, on February 5, NALCO’s aluminium ingot price was at INR 167,650-171,150 per tonne, down by INR 1,600 per tonne from the earlier week.
NALCO’s wire rod price has also been raised by the same amount of INR 4,600 per tonne from INR 171,150-175,500 per tonne to INR 175,750 - 180,100 per tonne. Aluminium billets price is standing at INR 175,700 – 178,350 per tonne, also up by INR 4,600 per tonne from 171,100 – 173,750 per tonne on February 5.
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 5, surged to reach at US$ 2070.50 per tonne, as of February 10. This marks the highest price in the last two years. On a year-on-year basis, the three-month futures of aluminium on the London Metal Exchange are currently up by US$ 394.50 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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