National Aluminium Company Limited (NALCO) continued to increase its aluminium ingot and aluminium products prices for the second time in a row, with effect from Friday, January 14. The company’s aluminium ingot price saw a rise of INR 2,100 per tonne to a range between INR 249,550- 253,050 per tonne. A week ago, on January 7, NALCO’s aluminium ingot price was raised by INR 9,100 per tonne to stand at INR 247,450- 250,950 per tonne.
On January 14, NALCO’s aluminium wire rod price came in at INR 252,050- 256,400 per tonne, up by INR 2,1000 per tonne as well from INR 249,950- 254,300 on January 7. The company’s aluminium billets price also grew by INR 2,100 per tonne over the week from INR 250,900- 253,550 per tonne to INR 253,000- 255,650 per tonne.
NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which from January 7 to January 14 jumped by US$58 per tonne to settle at US$2,977.50 per tonne. Thus, on a month-on-month calculation, the LME aluminium benchmark price is standing up by US$341.50 per tonne from US$2,636 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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