Sep 29, 2017 12:27 PM IST | Source: Moneycontrol.com
NALCO jumps 5% on sharp hike in alumina prices on sequential basis
The spike in alumina prices is largely due to supply concerns in China.
Moneycontrol News
National Aluminium Company (NALCO) share price rallied 5 percent intraday Friday on continued spike in alumina prices.
As per company's latest alumina shipment that supplied at a price of USD 439 per tonne, more than 35 percent increase compared the shipment price of USD 320 per tonne in Q1FY18.
The spike in alumina prices is largely due to supply concerns in China.
On September 8, NALCO management told CNBC-TV18 that alumina prices had moved to USD 390 per tonne from USD 330 per tonne in last month. He had expected alumina prices to continue to trade in range of USD 350-400 per tonne.
NALCO is one of the largest integrated bauxite-alumina-aluminium-power complex in the country.
At 12:05 hours IST, the stock price was quoting at Rs 78.95, up Rs 2.70, or 3.54 percent on the BSE.
Lunch 
