NALCO grows aluminium ingot price by INR2100/t on April 21 in response to three back-to-back hikes in LME

National Aluminium Company Limited has revised its aluminium ingot and aluminium products prices since its last cut on April 12. With effect from Thursday, April 21, NALCO has increased its aluminium ingot price by INR 2,100 per tonne or 0.75 per cent to sell it at INR 282,650-286,150 per tonne. On April 12, the price was at INR 280,550- 284,050 per tonne after being sharply cut by INR 15,700 per tonne.

NALCO’s aluminium wire rod price has also seen a raise of INR 2,100 per tonne to INR 285,150-289,500 per tonne as against INR 283,050- 287,400 per tonne on April 12. Aluminium billets price has come in at INR 286,100-288,750 per tonne, up by the same amount from INR 284,000- 286,650 per tonne.

NALCO links its aluminium ingot and aluminium products prices to the three-month future price of aluminium on the London Metal Exchange. So, in response to the growth in LME aluminium price by US$25.50 per tonne from US$3,214.50 per tonne on April 12 to US$3,240 on April 22, NALCO has raised its aluminium prices. However, on a month-on-month calculation, the LME aluminium benchmark price is down by US$278 per tonne than US$3,518 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.