NALCO’s aluminium ingot price sees a sharp rise of INR8000/t or 4% with effect from June 1

National Aluminium Company Limited (NALCO) has sharply increased its aluminium ingot and aluminium products prices with effect from Tuesday, June 1, after three cuts in a row since May 19. NALCO has raised its aluminium ingot price by INR 8,000 per tonne or 4 per cent to INR 204,350-207,850 per tonne. Last week, with effect from May 27, NALCO’s aluminium ingot price stood at INR 196,350-199,850, decreasing by INR 4,000 per tonne from the previous day.

NALCO’s aluminium wire rod price has come in at INR 207,850-212,200 per tonne with effect from June 1, also up by INR 8,000 per tonne from INR 199,850-204,200 per tonne on May 27. NALCO’s aluminium billets price has also seen a hike of INR 8,000 per tonne from INR 199,800-202,450 per tonne to INR 207,800-210,450 per tonne on June 1.

NALCO, like any other Indian aluminium producers, links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which during May 28 – June 1, increased by US$ 57 per tonne to come in at US$ 2,461.50 per tonne. This brings the LME aluminium price month-on-month higher by about US$ 27 per tonne and year-on-year by US$ 950 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.