National Aluminium Company Limited (NALCO) has significantly increased its aluminium ingot and aluminium products prices with effect from Friday, January 7, following a cut on January 1. The hike is in line with the LME aluminium benchmark price rise by US$50.50 per tonne on January 5.
NALCO’s aluminium ingot price has seen a surge of INR 9,100 per tonne to stand at INR 247,450- 250,950 per tonne as of January 7. On January 1, the metal price ranged between INR 238,350–241,850 per tonne after a cut of INR 4,200 per tonne.
NALCO’s aluminium wire rod price has come in at INR 249,950- 254,300 per tonne on January 7, also up by INR 9,100 per tonne from INR 240,850-245,200 per tonne on January 1. Aluminium billets price is currently hovering around INR 250,900- 253,550 per tonne, compared to INR 241,800- 244,450 per tonne till January 6.
The three-month futures of aluminium on the London Metal Exchange stood higher at US$2,866 per tonne as of January 5, which brought the price month-on-month up by US$265.50 per tonne from US$2,600.50 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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