National Aluminium Company Limited (NALCO) has hiked its aluminium ingot and aluminium products prices with effect from Wednesday, November 24, following an intermittent cut on November 19. The latest rise has brought the company’s aluminium ingot price to INR 231,850- 235,350 per tonne versus INR 224,050-227,550 per tonne on November 19. That flaunted a jump of INR 7,800 per tonne from the previous prices.
NALCO has also increased its aluminium wire rod price by INR 7,800 per tonne with effect from November 24, bringing the selling price to INR 234,350- 238,700 per tonne compared to INR 226,550-230,900 per tonne on November 19.
Aluminium billets price is standing at INR 235,300- 237,950 per tonne, also up by INR 7,800 per tonne from INR 227,500-230,150 per tonne.
NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which increased to US$ US$2,699 per tonne on November 24 from US$2,661 per tonne on November 19. However, on a month-on-month calculation, the price still stood down by US$247 per tonne from US$2,946 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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