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.