Nalco rides on London Metal Exchange gains, sees room for more price hikes

Along with aluminium, alumina prices have also gone up, bringing gains for Nalco

India’s primary aluminium producers, particularly National Aluminium Company (Nalco), gained on account of a rally in global aluminium prices over the past week before a correction on Tuesday.

Aluminium prices on the London Metal Exchange (LME) peaked at $2,452 per tonne for the cash buyer (as of April 23). 

After touching seven-year highs, aluminium prices on the LME have tumbled 8.7 per cent after the US softened its stand on United Company Rusal Plc, allowing it more time to comply with the sanctions imposed on it. 

The US treasury has announced it is prepared to lift the sanctions on Rusal