Mumbai: National Aluminium Co. Ltd (Nalco), India’s second biggest producer, lowered prices of the metal by as much as 5% to match a drop in global rates.
Prices were lowered by as much as Rs5,000 ($105) a tonne to about Rs91,700 a tonne, chairman C.R. Pradhan said on Tuesday in a phone interview from Bhubaneswar. The new prices are effective from Tuesday, he said.
Nalco produces 360,000 tonnes of aluminium annually and sells it at prices linked to the London Metal Exchange.