NALCO’s aluminium ingot price sees a surge of INR14500/t on February 9 in response to LME aluminium new price high since 2008

National Aluminium Company Limited (NALCO) has hiked its aluminium ingot and aluminium products prices on Wednesday, February 9, in response to the LME aluminium new price high since 2008. NALCO has increased its aluminium ingot price by INR 14,500 per tonne to INR 275050- 278550 per tonne on February 9. Over a week ago, on February 1, NALCO’s aluminium ingot price had seen a slash of INR 4,500 per tonne to INR 260,550-264,050 per tonne.

NALCO’s aluminium wire rod price also experienced a surge of INR 14,500 per tonne on February 9 from INR 263,050-267,400 per tonne on February 1 to INR 277,550- 281,900 per tonne. With effect from February 9, aluminium billets price has come in at INR 278,500- 281,150 per tonne, in compare to INR 264,000-266,650 per tonne until the previous day.

NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which from February 4 to February 8 soared by US$158 per tonne to reach US$3,245 per tonne. On a month-on-month calculation, the price is up by about US$325.50 per tonne or 11.15 per cent from US$2,919.50 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.