NALCO increases its aluminium prices by nearly 1% w.e.f June 20 in line with market demand and consumption

National Aluminium Company Limited (NALCO) has again increased its aluminium prices with effect from Saturday, June 20, following a cut on Wednesday, June 17. According to the prices revealed by the company, aluminium ingots prices are now ranging between INR 140050 per tonne and INR 143,550 per tonne, up by INR 1000 per tonne or nearly 1 per cent from INR 139050-142550 per tonne on June 17.

With the latest hike, the prices of aluminium billets have come in at INR143500-146150 per tonne compared to INR142,500-145,150 per tonne after the previous cut, while the prices of aluminium wire rods have clocked at INR 144,550-148,900 per tonne as against INR 143,550 – 147,900 per tonne on June 17.

The above data shows that both the prices of aluminium billets and aluminium wire rods of NALCO have grown by INR 1000 per tonne or 1 per cent.

Like any other Indian aluminium producers, NALCO also links the prices of aluminium and aluminium products to the three-month futures of aluminium on the London Metal Exchange. The three-month futures of aluminium are down by 11% so far in 2020 due to slower global demand following the coronavirus outbreak. Aluminium prices are expected to remain under pressure due to the COVID-19 pandemic.

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.

source https://www.alcircle.com/news/nalco-increases-its-aluminium-prices-by-nearly-1-w-e-f-june-20-in-line-with-market-demand-and-consumption-57194