National Aluminium Company Limited (NALCO) has increased its aluminium ingot and aluminium products prices with effect from Saturday, September 25, after a week it decreased the prices on September 17. With the latest hike, NALCO’s aluminium ingot price has come in at INR 246,350-249,850 per tonne, up by INR 3,500 per tonne from 242,850-246,350 per tonne.
NALCO’s aluminium wire rod price has also witnessed a rise of INR 3,500 per tonne with effect from September 25 to stand at INR 248,850–253,200 per tonne. Until this hike, NALCO’s aluminium wire rod price hovered around INR 245,350- 249,700 per tonne, which was down by INR 3,000 per tonne from the previous price.
NALCO is currently selling its aluminium billets at INR 249,800 – 252,450 per tonne, compared to INR 246,300-248,950 per tonne on September 17.
NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which during September 17-23 rose by US$22 per tonne from US$2,915 per tonne to US$2,937 per tonne. However, on September 24, the price decreased to US$2,905.50 per tonne. Nonetheless, on a month-on-month basis, the price stood up by US$257 per tonne from US$2,648.50 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.
source https://www.alcircle.com/news/nalcos-aluminium-ingot-price-sees-a-rise-of-inr3500-t-with-effect-from-september-25-70491
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