NALCO hikes its aluminium ingot price for the third time in a row to INR217,750-221,250/t on July 7

National Aluminium Company Limited’s (NALCO) aluminium ingot and aluminium products prices have extended their hikes for the third time in a row, from June 25 to July 7. With the latest rise on Wednesday, July 7, NALCO’s aluminium ingot price has come in at INR 217,750-221,250 per tonne, up by INR 4,900 per tonne or 2.30 per cent from INR 212,850-216,350 per tonne on June 30.

NALCO’s aluminium wire rod and aluminium billets prices have also witnessed an increase of INR 4,900 per tonne on July 7. While the former is now standing at INR 221,250- 225,600 per tonne against INR 216,350-220,700 per tonne on June 30, the latter is ranging between INR 221,200-223,850 per tonne compared to INR 216,300-218,950 per tonne on the previous day.

NALCO, like any other Indian aluminium producer, links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which is currently standing at US$ 2,508.50 per tonne, as of July 7. On a month-on-month basis, the price is up by US$ 91 per tonne from US$ 2,417.50 per tonne and on year by about US$ 912 per tonne from US$ 1,596.50 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.