National Aluminium Company Limited (NALCO) has raised its aluminium ingot and aluminium products prices with effect from Thursday, January 28, after two consecutive weeks of decline. With the latest hike, NALCO’s aluminium ingot price has come in at INR 169,250-172,750 per tonne versus INR 167,850-171,350 per tonne on January 21. This registers an increase of INR 1,400 per tonne over the week.
NALCO’s aluminium billets price is standing at INR 172,700 – 175,350 per tonne, up by INR 1,400 per tonne from INR 173,000-175,650 per tonne in the previous week. The price of aluminium wire rod has also been raised by INR 1,400 per tonne from INR 171,350-175,700 per tonne to INR 172,750 – 177,100 per tonne.
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 last Thursday, January 21, hiked to US$ 2025 per tonne, as of January 26, but fell to US$ 1979 per tonne on January 28. Currently, the LME aluminium three-month futures price is up by US$ 234.50 per tonne on a year-on-year basis.
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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