India's Aluminium Products Increase Price by US$92/ton

It is reported that the National Aluminum Corporation of India recently raised the prices of all its products, including aluminum ingots and billets, and raised the price by about US$92 per ton. This move keeps its price consistent with the rising LME metal price.

The National Aluminum Corporation of India is Asia's largest integrated aluminum producer, and other domestic aluminum producers have consistently viewed their sales prices as an international benchmark. The price of standard aluminum ingots has been adjusted to US$2,674.

This is the second time that National Aluminum raised its price in a matter of months. In January, its price rose by approximately US$85. Obviously, the Indian aluminum industry is in a rebounding trend. National Alcoa often keeps its price consistent with LME prices by raising prices.

Mukesh Kumar, the CEO of another Indian miner, Wanda Resources, said in a report in the Financial Express that aluminum prices may have risen due to processing companies replenishing stocks to meet the market's rebound. Kumar predicts that LME aluminum prices will climb to $2,300 by the end of March.

In January, LME aluminum prices were low between 2000 and 2150 US dollars.

Due to the backlog of products in the previous two years, many manufacturers started to cut production, and aluminum prices are expected to maintain growth in 2013. In addition, manufacturing in China and India has seen a recovery, and the US market is also expected to open.

As the largest shareholder of the national aluminum industry, the Indian government has benefited a lot. The fiscal government decided to sell its four public utility shares in the current fiscal year, including National Aluminum.

The sale will be conducted after the submission of the national budget in the first week of March. All four institutions will be sold through the stock exchange, that is, auction auctions.

The Indian Ministry of Finance and the Planning Commission plan to invest the proceeds from this sale into social undertakings.

According to the national aluminum industry, its net income in 2012 was 2.1 billion, an increase of 132% year-on-year.