NALCO’s aluminium ingot price grows for the fourth time in a row by INR1800/t with effect from May 1

National Aluminium Company Limited (NALCO) grew its aluminium ingot and aluminium products prices for the fourth time in a row with effect from Saturday, May 1, 2021. NALCO’s aluminium ingot price witnessed a hike of INR 1,800 per tonne or 0.88 per cent to INR 206,850-210,350 per tonne. Earlier on April 27, NALCO’s aluminium ingot price stood at INR 205,050-208,550 per tonne, reflecting an increase of INR 3,800 per tonne.

With the latest hike, NALCO’s aluminium wire rod price came in at INR 210,350-214,700 per tonne, which also registered a growth of INR 1,800 per tonne from INR 208,550-212,900 per tonne on April 27.

NALCO since May 1, 2021, is selling its aluminium billets at INR 210,300 – 212,950 per tonne compared to INR 208,500-211,150 per tonne on April 27.

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 during April 28-30 increased by US$ 56 per tonne to stand at US$ 2,445 per tonne, reflecting a month-on-month growth of US$ 224.50 per tonne or 10.11 per cent from US$ 2220.50 per tonne. On a year-on-year calculation, the LME aluminium price gained US$ 984.50 per tonne or 67.41 per cent from US$ 1460.50 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.