State-owned aluminium major, National Aluminium Company (Nalco), on Monday said the company expect alumina prices to remain within the range of $550- 675 per tonne.

In an interview to CNBC-TV18, TK Chand, chairman-cum-managing director, said that Nalco expect prices to move up further.

"Our last shipment was at $580 per tonne and it's now $623 per tonne. The tender was opened and finalised on 24th, two days back. At the beginning of the month, the tender price was $530 per tonne and it has increased to $623 per tonne, which means within a period of 20-21 days, it has moved by 18 percent,” Chand said.

According to Chand, every $10 per tonne increase in prices leads to earnings before interest, taxes, depreciation, and amortisation (EBITDA) increase of Rs 91 crore annually.

First Published:Aug 27, 2018 12:57 PM IST