National Aluminium Company (NALCO) has increased its aluminium ingot price sharply by INR 5,400 per tonne or 3.9 per cent with effect from Friday, July 10, following the cut on Wednesday, July 8, to INR 138,050-141,550 per tonne. Hence, the company’s aluminium ingot price is now hovering at INR 143,450-146,950 per tonne.

The prices of aluminium billets and aluminium wire rods have also been raised on July 10. Nalco’s aluminium billets price is now ranging between INR 146,900-149550 per tonne, up by INR 5,150-5400 per tonne or nearly 3.7 per cent from INR 141,750-144,150 per tonne, as of July 8. Nalco’s aluminium wire rods price, on the other hand, is now at INR 146950 – 151300 per tonne, also up by INR 5,400 per tonne or 3.8 per cent from INR 141,550-145,900 per tonne.

Indian aluminium producers generally link the prices of its products to the three-month futures of aluminium on the London Metal Exchange. In the last two days, LME aluminium futures prices displayed a positive sentiment ranging between US$ 1619 per tonne and US$ 1639.50 per tonne. Also, the decline of the over-all three-month futures of aluminium has slid from over 9 per cent to 7.5 per cent. But still, the aluminium prices are expected to remain under pressure due to the ongoing 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.