National Aluminium Company Limited has continued to increase its aluminium ingot and aluminium products prices for the third time in a row since February 9. With effect from Friday, February 25, NALCO’s aluminium ingot price has witnessed a surge of INR 20,000 per tonne or 7 per cent for the first time to come in at INR 300,450- 303,950 per tonne.
This hike is in line with the rally of the LME aluminium benchmark price to a record high since 2008, following worries of reduced metal supplies from Russia fuelled by Ukraine-Russia conflict . On Thursday, February 24, the three-month LME aluminium future price soared by US$195.50 per tonne or 5.88 per cent to score at US$3,519 per tonne. Thus, on a month-on-month calculation, the price is up by US$474.50 per tonne from US$3,044.50 per tonne.
On February 25, NALCO’s aluminium wire rod price has also experienced a rise of INR 20,000 per tonne from INR 282,950-287,300 per tonne on February 17 to INR 302,950- 307,300 per tonne. Aluminium billets price has come in at INR 303,900- 306,550 per tonne, up by INR 20,000 per tonne as well from INR 283,900-286,550 per tonne on the previous day.
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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