NALCO’s aluminium ingot price sees a surge of INR24300/t or 10% W-o-W in line with a new leap of LME aluminium price

National Aluminium Company Limited has significantly increased its aluminium ingot and aluminium products prices, in line with a new leap of LME aluminium benchmark price. With effect from Friday, October 15, NALCO’s aluminium ingot price came in at INR 271,850-275,350 per tonne, up by INR 24,300 per tonne or 9.8 per cent from INR 247,550- 251,050 per tonne on October 7.

NALCO’s aluminium products prices have also seen a surge of INR 24,300 per tonne, with effect from October 15. That brought the company’s aluminium wire rod price to INR 274,350-278,700 per tonne, in comparison with INR 250,050- 254,400 per tonne a week ago. Aluminium billets price has amounted to INR 275,300-277,950 per tonne from INR 251,000- 253,650 per tonne on October 7.

NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which again hit a 13-year high last week.  During October 11-15, the LME aluminium benchmark price jumped from US$3,020 per tonne to US$3,163 per tonne. So, on a month-on-month calculation, the price stood up by US$295 per tonne from US$2,868 per tonne, and on a year-on-year basis, it was higher by US$1,339 per tonne than US$1,824 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.