About NALCO and the Daily Aluminium Price Circular
What is NALCO?
National Aluminium Company Limited (NALCO) is a Government of India Navratna enterprise under the administrative control of the Ministry of Mines. It is one of the largest integrated bauxite-alumina-aluminium-power complexes in Asia, with operations spanning mining, refining, smelting, and captive power generation.
- Legal name: National Aluminium Company Limited
- Incorporated: 7 January 1981
- Headquarters: NALCO Bhawan, Nayapalli, Bhubaneswar, Odisha
- Status: Navratna Central Public Sector Enterprise (CPSE)
- BSE code: 532234 | NSE symbol: NATIONALUM
- Smelter capacity: approx. 0.46 MTPA aluminium at Angul, Odisha
- Alumina refinery: 2.275 MTPA at Damanjodi, Koraput district
- Bauxite mine: Panchpatmali, Koraput (one of the largest in Asia)
- Captive power: 1,200 MW thermal plant at Angul
NALCO is the price-setter for primary aluminium ingots in the Indian domestic market, and its daily circular is treated as the official reference by downstream consumers including extrusion plants, cable manufacturers, automotive OEMs, and aluminium formwork manufacturers such as Fommec Global.
History of NALCO (1981 onward)
NALCO was conceived to make India self-reliant in aluminium production by leveraging the rich bauxite reserves of the Eastern Ghats. The company was incorporated in 1981, and commercial production began in the late 1980s after the integrated complex at Angul-Damanjodi was commissioned with technical collaboration from Aluminium Pechiney of France.
| Year | Milestone |
|---|---|
| 1981 | Incorporated as a Government of India enterprise |
| 1985 | Bauxite mining begins at Panchpatmali |
| 1987 | Alumina refinery at Damanjodi commissioned |
| 1987 | Smelter and captive power plant at Angul operational |
| 1992 | Listed on BSE and NSE |
| 2008 | Conferred Navratna status by the Government of India |
| 2018-2024 | Capacity expansions, fifth stream of Damanjodi refinery, Utkal-D coal block, Pottangi bauxite mine allocations |
| 2026 | Continues to publish daily IE07 ex-works price as India's domestic benchmark |
Over four decades, NALCO has evolved from a greenfield PSU into a profitable, dividend-paying Navratna with exports to over 30 countries and a domestic pricing role that no private smelter has been able to displace.
How NALCO Publishes Its Daily Price Circular
NALCO operates a transparent price-publication mechanism that is updated on its official website (nalcoindia.com) under the Domestic → Current Price section. The circular is generally revised every business day during market hours and reflects the ex-Angul-works price of primary aluminium ingots.
- Reference benchmark: The price is anchored to the London Metal Exchange (LME) cash settlement for primary aluminium, converted to INR using the prevailing USD/INR exchange rate.
- Premium adjustment: NALCO adds a domestic premium (covering freight, packaging, and producer margin) over the LME-equivalent rupee price.
- GST exclusion: The published rate is exclusive of Goods and Services Tax (currently 18% on primary aluminium) and any logistics beyond the ex-works gate.
- Grade-wise circular: Separate prices are issued for ingots (IE07), wire rods (EC grade), billets, and alloy wire rods.
- Communication: The circular is posted publicly on nalcoindia.com and circulated to registered customers via email and authorised distributors.
What IE07 Grade Means in the NALCO Circular
IE07 is NALCO's internal product code for its standard primary aluminium ingot of minimum 99.7% purity, conforming to IS 5484 and equivalent to LME-deliverable P1020A grade in international terminology.
- Purity: Al ≥ 99.7%
- Form: Sow ingot, typically 22-26 kg per piece
- Standard: IS 5484 (Bureau of Indian Standards)
- Use cases: Re-melting for extrusions, castings, formwork panels, conductor rods, and downstream alloy production
Because IE07 is the most widely consumed grade in Indian manufacturing, its daily price is the headline figure that contractors and traders track. A separate explainer is available on the IE07 Grade Explained page.
Why NALCO Price is India's Aluminium Benchmark
Although LME sets the global reference, the domestic Indian market follows the NALCO circular for several structural reasons:
- Public-sector transparency: NALCO is a listed Government of India enterprise; its prices are auditable and free from private cartel risk.
- Daily frequency: Unlike monthly contracts, the circular is updated in near-real-time with LME and forex movements.
- Domestic logistics included: The ex-works price already reflects Indian freight and packaging norms, making it directly usable in domestic procurement contracts.
- INR denomination: Buyers avoid USD-INR conversion risk that a raw LME quote would carry.
- Universal acceptance: Indian banks, traders, and large buyers such as cable companies, automakers, and aluminium formwork manufacturers tender against the NALCO rate.
This is why a contractor quoting an aluminium formwork project in Mumbai, Pune, or Hyderabad in 2026 typically negotiates a fixed premium or discount over the prevailing NALCO IE07 rate rather than the LME cash price.
How fommec.com Sources the Live Price
The Fommec Live tracker at live.fommec.com is operated by Fommec Global Private Limited, India's aluminium formwork manufacturer. It mirrors the official NALCO IE07 circular for the benefit of contractors, real estate developers, and formwork buyers and sellers who need a single, citation-friendly source.
- Source of truth: NALCO official current-price endpoint at nalcoindia.com
- Refresh cadence: Polled multiple times per business day during NALCO publication hours
- Display: INR per tonne and INR per kg (ex-works, excluding GST), with historical chart
- Independence: Fommec Live does not modify or mark up the NALCO figure; the LME and USD/INR cross-checks are shown for transparency
- Alerts: Users can subscribe via the WhatsApp Price Alert service to receive each new circular within minutes of publication
Last updated: 22 May 2026.