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India's NALCO says cuts aluminium prices by $67.4/T
Edited by : AL CIRCLE
1 min read
State-run National Aluminium Co Ltd (NALCO) , India's No. 3 producer of aluminium, has further cut aluminium prices by 3,000 rupees ($67.4) a tonne in the local market following a drop in global prices, a top company official said on Friday.
The revision, which is effective immediately, reflects the changes in London Metal Exchange (LME) rates, NALCO's commercial director Ansuman Das told Reuters.
London aluminium has fallen more than 7 percent since the beginning of June to $2,482 per tonne.
NALCO had last month cut prices by 5,000 rupees per tonne, besides offering a 4-day discount of 2,000 rupees per tonne across all products from June 27.
Das said the basic price (ex-works) of standard aluminium ingots would now be 139,200 rupees per tonne.
The revision, which is effective immediately, reflects the changes in London Metal Exchange (LME) rates, NALCO's commercial director Ansuman Das told Reuters.
London aluminium has fallen more than 7 percent since the beginning of June to $2,482 per tonne.
NALCO had last month cut prices by 5,000 rupees per tonne, besides offering a 4-day discount of 2,000 rupees per tonne across all products from June 27.
Das said the basic price (ex-works) of standard aluminium ingots would now be 139,200 rupees per tonne.
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