NALCO sharply increases its aluminium ingot price by more than INR6500/t with effect from April 9
National Aluminium Company Limited (NALCO) has sharply raised its aluminium ingot and aluminium product prices with effect from Friday, April 9, following a cut more than a week ago on April 1. NALCO’s aluminium ingot price has come in at INR 194,250-197,750 per tonne, reflecting an increase of INR 6,600 per tonne from INR 187,650-191,150 per tonne.
Aluminium wire rod price has also witnessed a surge of INR 6,600 per tonne with effect from April 9 from INR 191,150-195,500 per tonne to INR 197,750-202,100 per tonne. NALCO’s aluminium billets price has also been raised by INR 6,600 per tonne from INR 191,100-193,750 per tonne to INR 197700-200,350 per tonne.
NALCO, like any other Indian aluminium producer, links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which after April 1 increased by US$ 55 per tonne to US$ 2,267.50 per tonne as of April 8, 2021. On a year-on-year basis, the three-month futures of aluminium on LME are currently up by US$ 846 per tonne or 59.51 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.
China's primary aluminium production in March declines 11% M-o-M but records a growth of 10% on year
Next articleLME aluminium price slipped by US$17.50/t to close at US$2250/t; SHFE price settled lower at US$2651/t
Grow with
AL Circle
