National Aluminium Company Limited (NALCO) again increased its aluminium ingot and aluminium products prices after a week, with effect from Saturday, January 29. The company’s aluminium ingot price grew by INR 3,900 per tonne from INR 261,150- 264,650 per tonne on January 22 to INR 265,050-268,550 per tonne on January 29.
NALCO hiked its aluminium wire rod price also by INR 3,900 per tonne on January 29, bringing it to INR 267,550-271,900 per tonne. On January 22, the price stood at INR 263,650- 268,000 per tonne, seeing a surge of INR 6,300 per tonne.
NALCO’s aluminium billets price witnessed no exception but an increase of INR 3,900 per tonne from INR 264,600- 267,250 per tonne to INR 268,500-271,150 per tonne.
NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which from January 24 to 28 moved up by US$65.50 per tonne to settle at US$3,110 per tonne. That brought the price to a month-on-month hike of nearly US$275 per tonne from US$2,835 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/nalco-aluminium-ingot-price-gains-inr3900-t-over-the-week-ending-january-29-75497
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