NALCO raises aluminium prices by Rs 2,000

BHUBANESWAR: Buoyed by the recovery of metal price, the state-run Navaratna PSU National Aluminium Co Ltd (NALCO) on Friday raised aluminium prices by Rs 2,000 per ton across all products. The basic price of standard aluminium ingots after the revision stood at Rs 139,700 per ton.

“The metal price at LME has been fluctuating over the past eight months. However, the metal price has recovered in the past two days hovering around $ 2400. We expect the price to stay in the range of $ 2300-2500 per ton”, Nalco chairman and managing director B.L.Bagra said adding that the price revision was effected in line with the increase in LME prices.

Early in August, Nalco had last raised aluminium prices by Rs 5,000, but announced discount of Rs 2000 on August 23. However, it withdrew the discount on Wednesday, a company spokesperson said.