NALCO’s aluminium wire rod price rebounds to INR177,250-181,600/t with effect from December 15
National Aluminium Company Limited’s (NALCO) aluminium wire rod price rebounded to INR 177,250-181,600 per tonne with effect from Tuesday, December 15, following a downfall on December 11 to INR 174,750-179,100 per tonne. This shows the price of NALCO’s aluminium wire rod increased by INR 2,500 per tonne or 1.43 per cent on December 15.
NALCO’s aluminium billets price came in at INR 177,200-179,850 per tonne, also up by INR 2,500 per tonne from INR 174,700- 177,350 per tonne.
With the latest hike, NALCO’s aluminium ingot price is now standing at INR 173,750–177,250 per tonne versus INR 171,250- 174,750 per tonne last week.
NALCO, like any other Indian aluminium producers, links its aluminium product and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which on Monday, December 14, rose to US$ 2042.50 per tonne from US$ 2022 per tonne on December 11. However, on December 15, the price again relapsed to US$ 2022 per tonne. So, currently, the LME aluminium three-month futures price is up by US$ 250 per tonne or 14.11 per cent since the beginning of 2020.
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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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