NALCO’s aluminium ingots price stands at INR 41,650 – 145,150/t with effect from June 11
National Aluminium Company Limited (NALCO) has increased its aluminium products price for second time in a row. With effect from Thursday, 11 June 2020, NALCO's aluminium ingots price stood at INR 141,650 – 145,150 per tonne, registering a hike of INR 4,900 or 3.58 per cent from INR 136,750-140,250 per tonne on June 6.
The prices of aluminium billets rose by 3.3 per cent to INR 145,100- 147,750 per tonne on June 11, from INR 140,450-142,850 per tonne on June 6.The aluminium wire rods price came in at INR 146,150-150,500 per tonne.
Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium are down more than 10% so far in 2020 due to slower global demand following the coronavirus outbreak. Aluminium prices are expected to remain under pressure due to the Coronavirus pandemic.
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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