Nalco may hike aluminium prices by Rs 2,000-3,000/tonne

National Aluminum Company (Nalco) is likely to increase the price of the metal by Rs 2,000-3,000 a tonne with effect from April, in sync with firming global prices. The price rise was necessary to ensure parity with import prices and to pass on the rise in input costs. Dollar weakness has also contributed to the rise in aluminum prices. The price of aluminum on the London Metal Exchange (LME) is currently hovering at around $2,570 a tonne.

Global production of aluminium currently stands at 39-40 million tonnes per annum. Demand also stands at around the same level. Meanwhile, some smelters have been closed in China in the recent past, leading to firming up of the price. However, the current small demand-supply mismatch is only a temporary phenomenon as with the firming up of the price, the closed smelters have again resumed operation.crackcrack