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NALCO cuts aluminium prices by Rs2,500/T: source

NALCO cuts aluminium prices by Rs2,500/T: source
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First Published: Thu, Mar 17 2011. 11 39 AM IST
Updated: Thu, Mar 17 2011. 11 39 AM IST
Bhubaneswar: Indian metal producer National Aluminium Co Ltd (NALCO) has cut aluminium prices by Rs2,500 ($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 Rs1, 40,200 a tonne and that of standard aluminium sow ingots to Rs1,40,150 per tonne.
The new prices for all aluminium products, which were effective from Wednesday, will remain valid till 31 March.
LME aluminium traded almost steady at $2,480 per tonne on Thrusday, after hitting a near 1-1/2 month low of $2,452 in the previous session, a level last seen on 28 January.
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First Published: Thu, Mar 17 2011. 11 39 AM IST