India's NALCO cuts aluminium prices by 4000 rs/tonne

Posted by twaluminum on July 23rd, 2015

BHUBANESWAR, India, Nov 20 （Reuters） India's state-run National Aluminium Co Ltd （NALCO） has cut its aluminium prices by 4,000 rupees per tonne for domestic market after the rate of the metal dropped on the London Metal Exchange （LME）, a senior company official said on Saturday.

"We have reduced the prices of all aluminium products to keep it in line with the LME," the official told Reuters, who did not wish to be named due to company policy.

The NALCO official said the basic price （ex-works） of standard aluminium ingots and standard aluminium sow ingots would now be 131,200 and 131,150 rupees per tonne respectively.

NALCO is the country's third-largest aluminium producer and its tenders are watched by international metal traders.

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