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NALCO cuts aluminium prices by Rs 6,500/tonne: Source

State-run National Aluminium Co (NALCO), India's third-largest producer of aluminium, has cut aluminium prices by Rs 6,500 (USD 145.5) a tonne, a senior company official said, a week after raising the domestic prices by Rs4,000 a tonne.

May 10, 2011 / 06:14 PM IST
 
 
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State-run National Aluminium Co (NALCO), India's third-largest producer of aluminium, has cut aluminium prices by Rs 6,500 (USD 145.5) a tonne, a senior company official said, a week after raising the domestic prices by Rs4,000 a tonne.


Both the moves were prompted by the changes in London Metal Exchange (LME) rates, the official, who did not wish to be identified due to a company policy, told Reuters on Tuesday.


With the latest move, the prices of standard aluminium ingots stand trimmed at Rs 145,700 per tonne, he said.


NALCO had last week raised the basic price (ex-works) of standard aluminium ingots and standard aluminium sow ingots to Rs 152,200 per tonne.

(USD 1=Rs 44.68)

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