Nalco targets selling 6-7 lakh tonne of alumina in H2 FY18

India’s leading integrated aluminium producer National Aluminium Company Limited expects that it will sell around 6-7 lakh tonnes of alumina in the second half of the current fiscal ending March 3, 2018.

Average alumina prices in the global market have corrected to US$512.13 from US$527 per tonne as on December 4.

In a recent interview, Nalco CMD TK Chand said that the company was in a position to leverage the buoyant alumina prices in the medium term. The key raw material of aluminium smelting, alumina joined the uptrend in LME aluminium since September this year.  

According to Platts, alumina price index hit multiyear highs in early September. The rising alumina price index is good news for companies that produce alumina for their internal requirements and export to outside parties as well.

Nalco’s Q2 FY18 earnings were steady and in line with the expectations. The company achieved net profit of INR 235 crore, as against INR 129 crore in the previous quarter registering 82 per cent growth. The net sales was INR 2420 crore.

On the production front, Nalco’s alumina hydrate production reached 10.35 lakh tonnes in the first half of 2017-2018 fiscal. Alumina hydrate sales or the period was up 9.98 per cent at 6.39 lakh tonnes as compared to the same period previous year.