NALCO cuts aluminium prices by Rs 4,500/tonne

Posted By: Religare
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NALCO cuts aluminium prices by Rs 4,500/tonne
State-run National Aluminium Co Ltd (NALCO), India's third-largest producer of aluminium, has cut aluminium prices by Rs Rs 4,500 ($89) a tonne, a senior company official said, a week after cutting prices by Rs 6,500 a tonne.

Both the moves were promoted by the changes in the London Metal Exchange (LME) rates, the official, who did not wish to be identified due to a company policy , told Reuters on Saturday. With the latest move, the prices of standard aluminium ingots stand trimmed at Rs 141,200 per tonne, he added.

A week after reducing the prices of aluminium by Rs 6,500 a tonne, National Aluminium Co Ltd slashed the prices by Rs Rs 4,500 ($89) a tonne.

The reduction in the prices during both the times was as a result of the changes in the London Metal Exchange (LME) rates.

The prices of standard aluminium ingots stand at Rs 141,200 per tonne with the latest move.

Incorporated in 1981 as a public sector enterprise of the Government of India, National Aluminium Company Limited (Nalco) is Asia's largest integrated aluminium complex.

It encompasses bauxite mining, alumina refining, aluminium smelting and casting, power generation, rail and port operations. 

Read more about: aluminium, bse, nse, nalco
Story first published: Monday, May 23, 2011, 9:31 [IST]
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