NALCO’s aluminium ingot price rebounds to INR226,750-230,250/t in line with LME aluminium price hike

National Aluminium Company Limited’s aluminium ingot price and aluminium products prices rebounded on Wednesday, August 25, following a sharp decline in the previous week. The company has reported that it is now selling its aluminium ingot at INR 226,750-230,250 per tonne, up by INR 8,000 per tonne from INR 218,750- 222,250 per tonne on August 20.

NALCO’s aluminium wire rod price has also been raised by INR 8,000 per tonne from INR 221,250- 225,600 per tonne on August 20 to INR 229,250-233,600 per tonne on August 25. The latest hike has brought the company’s aluminium billets price to INR 230,200-232,850 per tonne, also an increase of INR 8,000 per tonne from INR 222,200- 224,850 per tonne.

NALCO, like any other Indian aluminium producer, links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which after August 20 climbed by US$ 78.50 per tonne to stand at US$ 2,647.50 per tonne as of August 25. On a month-on-month calculation, the price is up by around US$ 148 per tonne from US$ 2,499.50 per tonne, and on a year, increased by US$ 914.50 per tonne from US$ 1,733 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.