- Firm domestic market supports NALCO price increase
- Buyers limit purchases to immediate requirements
NALCO increased its primary aluminium ingot (P1020, 99.7%) prices on 24 July, raising the benchmark to INR 361,100/t ($4,010/t) from INR 356,300/t ($3,954/t), marking an increase of INR 4,800/t ($56/t), or 1.3%, supported by firm domestic aluminium prices. The prices are quoted on an ex-works basis and exclude GST.
The domestic aluminium market remained firm during the week, supported by stronger LME trends and sustained optimism in the global aluminium market.
Demand remained largely stable but cautious during the week, as seasonal factors continued to limit consumption across key end-user industries. Market participants reported that buyers continued to procure material primarily to meet immediate requirements, with inventory build-up remaining limited amid uncertain global market conditions.
Meanwhile, three-month aluminium prices on the LME edged up by $6/t (0.2%) to $3,188/t from $3,182/t. At the same time, LME aluminium inventories increased by 1,600 t (0.6%) to 276,775 t from 275,175 t, reflecting a slight build-up in exchange stocks while aluminium prices remained supported by positive global market sentiment.
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