National Aluminium Company Limited (NALCO) has elevated its aluminium ingot and aluminium products prices for the second consecutive time since November 1, although slightly at a lower rate. Compared to a hike of INR 6,600 per tonne on November 1, NALCO increased its aluminium ingot price by INR 5,300 per tonne on November 10. Thus, the price has come in at INR 222,350- 225,850 per tonne versus INR 217,050-220,550 per tonne last week.
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NALCO’s aluminium billets price has also seen a surge of INR 5,300 per tonne, with effect from November 10, amounting to INR 226,800- 229,450 per tonne. Aluminium wire rod price has been raised from INR 221,550-225,900 per tonne on November 1 to INR 226,850- 231,200 per tonne on November 10.
NALCO links its aluminium prices to the three-month futures of aluminium on the London Metal Exchange, which in the last one week recorded an overall growth of per cent from US$2,245.50 per tonne on November 1 to US$2,338 per tonne on November 8.
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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