NALCO’s aluminium ingot price soars by over INR10,000/t w.e.f. July 31; Present selling price is at INR225,250-228,750/t

National Aluminium Company Limited (NALCO) has sharply increased its aluminium ingot price by INR 10,100 per tonne or 4.7 per cent with effect from Saturday, July 31. This soar in price has brought the company’s aluminium ingot price to INR 225,250-228,750 per tonne compared to INR 215,150- 218,650 per tonne on July 28.

NALCO’s aluminium product prices have also seen a surge of INR 10,100 per tonne with effect from July 31. The company is now selling its aluminium wire rod at INR 227,750-232,100 per tonne in comparison with INR 217,650- 222,000 per tonne on the previous day. The present selling price of NALCO’s aluminium billets is INR 228,700- 231,350 per tonne versus INR 218,600- 221,250 per tonne on July 28.

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 July 28 surged by US$ 108 per tonne from US$ 2,516 per tonne to US$ 2,624 per tonne as of July 30. On a month-on-month basis, the price is up by US$ 101 per tonne from US$ 2,523 per tonne and on a year by US$ 942.50 per tonne from US$ 1,681.50 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.