NALCO grows its aluminium ingot and product prices by INR5000/t on August 17 after a cut ten days ago

National Aluminium Company Limited (NALCO) has significantly increased its aluminium ingot and aluminium product prices with effect from Tuesday, August 17, following a cut of INR 3,400 per tonne more than ten days ago on August 6. The company’s aluminium ingot price is now ranging between INR 226,850-230,350 per tonne, seeing a hike of INR 5,000 per tonne or 2.25 per cent from INR 221,850-225,350 per tonne.

The increase in prices today has brought the company’s aluminium wire rod price to INR 229,350-233,700 per tonne, which is also an increase of INR 5,000 per tonne from INR 224,350-228,700 per tonne on August 6.

NALCO is currently selling its aluminium billets at 230,300-232,950 per tonne compared to the last price of INR 225,300-227,950 per tonne.

NALCO, like any other Indian aluminium producer, links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which during August 6-16 saw a rise of US$ 25.50 per tonne from US$ 2,618.50 per tonne to US$ 2,644 per tonne. On a month-on-month basis, the price is up by US$ 151 per tonne from US$ 2,493 per tonne and on a year by about US$ 924.50 per tonne from US$ 1,719.50 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.