NALCO’s aluminium ingot price soars by INR19800/t with effect from October 6, 2022

National Aluminium Company Limited (NALCO) has significantly raised its aluminium ingot and aluminium products prices, effective from Thursday, October 6, following a sharp cut on September 27. NALCO’s aluminium ingot price has witnessed a surge of INR 19,800 per tonne to stand at INR 223,250-226,750 per tonne versus INR 203,450-206,950 per tonne last week.

NALCO’s aluminium wire rod price has come in at INR 226,750-231,100 per tonne, also up by INR 19,800 per tonne from INR 206,950- 211,300 per tonne on September 27. Aluminium billets price is no exception but soared by the same amount to settle at INR 227,700-230,350 per tonne versus INR 207,900- 210,550 per tonne on September 27.

NALCO has sharply expanded its aluminium prices in response to the continued increase in the three-month futures of aluminium on the London Metal Exchange since the beginning of October 2022. During October 3 to 6, the LME aluminium benchmark price skyrocketed by US$175 per tonne to rest at US$2,355 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.