NALCO increases its aluminium price by only 1% in line with LME price downtrend this week

National Aluminium Company Limited (NALCO) has expanded its aluminium and aluminium product prices for the fourth time in a row, with effect from Friday, August 14. The company has raised its aluminium ingot price by INR 1,300 per tonne or 1 per cent to INR 150,050-153,550 per tonne, as of August 14. After the previous hike a week ago on August 7, NALCO’s aluminium ingot price was at INR 148,750-152,250, up by 2.09 per cent from August 1.

With the latest hike, NALCO’s aluminium wire rod price has come in at INR 153,550 – 157,900, up by INR 1,300 per tonne or 1 per cent from INR 152,250-156,600 per tonne. The prices of NALCO’s aluminium billets have also been increased by the same amount to INR 153,500-156,150 per tonne from INR 152,200-154,850 as of August 7.

NALCO links its aluminium prices to the three-month futures of the metal on the London Metal Exchange. This week during August 7-13, the three-month aluminium futures price on LME trended down, although range-bound, from US$ 1744 per tonne to US$ 1738 per tonne. However, the overall decline in the three-month futures price of aluminium on LME has further shrunk to 1.92 per cent so far this year.

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.