ALUCAM raises aluminium price by 8% with effect from July 12

On 12th July 2021, the aluminium producer of Cameroon, ALUCAM, which not only feed the domestic demand but also export to other African nations, has decided to raise its aluminium prices by 8% on average, as confirmed by credible sources.

The aluminium producer explicates that its decision to raise the prices is triggered by two major reasons. The initial is the surge of alumina prices on international markets, while the other reason is the additional transport costs generated due to supply chain disruptions caused by the Covid-19 pandemic.

The price of alumina has soared by over 52.5% within 12 months, from $1,663 on 17th July 2020, to $2,539 on 12th July 2021.

The metal company’s decision towards price rise will empower in the short term policy to its roofing sheets manufacturing unit, Socatral (a division of ALUCAM) and other local firms. Eventually, this upswing will impact the retail prices offered by Alubassa, another division of ALUCAM that specializes in the manufacturing of cooking utensils.

However, this price rise will affect retail and wholesale prices, but it will help ALUCAM spawn more revenues and equipoise its treasury which was faced with a tough financial situation in 2015 due to the divestment of its strategic partner Rio Tinto Alcan. The cash flow issue rose to an extreme level and the company remained unable to pay its electricity bills for months.