NALCO cuts India aluminium prices by Rs 2,500/t: Source

National Aluminium Co (NALCO) has cut aluminium prices by Rs 2,500 (USD 55.2) per tonne in the domestic market, a senior company official said on Thursday.

"The revision was done to match with the falling LME (London Metal Exchange) prices," the official, who did not wish to be named due to company policy, told Reuters. He said the basic price of standard aluminium ingots has been cut to Rs 140,200 a tonne and that of standard aluminium sow ingots to Rs 140,150 per tonne. The new prices for all aluminium products, which were effective from Wednesday, will remain valid till March 31. LME aluminium traded almost steady at USD 2,480 per tonne on Thrusday, after hitting a near 1-1/2 month low of USD 2,452 in the previous session, a level last seen on January 28.