NALCO continues to increase its aluminium prices by 2% in response to growing LME benchmark prices

National Aluminium Company Limited has continued to increase its aluminium ingots and products prices for the third time in a row, with effect from Friday, August 7, 2020. Nalco’s aluminium ingots price is now standing at INR 148,750-152,250 per tonne, up by INR 3050-3100 per tonne or 2.09 per cent from INR 145,700 – 149,150 per tonne on August 1.

The price of aluminium wire rods has also been raised by INR 3,100 per tonne or 2.08 per cent from INR 149,150-153,500 per tonne to INR 152,250-156,600 per tonne. Nalco, on the other hand, is selling its aluminium billets price at INR 152,200-154,850 per tonne since the latest hike. This registers an increase of INR 2,850-3,100 per tonne or 1.9-2.04 per cent from INR 149,350- 151,750 per tonne on August 1.  

Like any other major Indian aluminium producers, Nalco links its aluminium prices to the three-month futures of the metal on the London Metal Exchange. This week during August 3-7, the three-month aluminium futures price on LME recorded an uptrend from US$ 1679.50 per tonne to US$ 1722 per tonne. So, the overall decline in the three-month futures price of aluminium on LME has come down to 2.82 per cent so far this year.

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.

source https://www.alcircle.com/news/nalco-continues-to-increase-its-aluminium-prices-by-2-in-response-to-growing-lme-benchmark-prices-57700