NALCO expands its aluminium ingot price for the second week in a row by above INR5000/t

National Aluminium Company Limited (NALCO) has expanded its aluminium ingot and aluminium products prices for the second week in a row, with effect from Saturday, March 27. A week ago, with effect from March 20, NALCO increased its aluminium prices by INR 1,500 per tonne, but this week the prices have been raised sharply by above INR 5,000 per tonne. With the latest hike, NALCO is selling its aluminium ingot price at INR 188,650-192,150 per tonne compared to INR 183,350-186,850 per tonne on March 20. This reflects a hike of INR 5,300 per tonne or 2.8 per cent.

NALCO’s aluminium wire rod price has come in at INR 192,150-196,500 per tonne, also up by INR 5,300 per tonne from INR 186850- 191200 per tonne last week. The company’s aluminium billets price is hovering in the range of INR 192,100-194,750 per tonne as of March 27 compared to INR 186,800-189,450 per tonne on March 20.

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 increased this week, albeit range-bound and with some intermittent declines, from US$ 2,254 per tonne on March 22 to US$ 2,260.50 per tonne on March 26. On a year-on-year basis, the three-month futures of aluminium on LME are currently up by US$ 753 per tonne or 49.95 per cent.

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.