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NALCO cuts domestic aluminium price
Edited by : AL CIRCLE
1 min read
State-owned National Aluminium Company Ltd. (NALCO) has decreased its domestic aluminium price by Rs.2,000 a tonne as the international price of the metal has come down, an official said Sunday.
This is the third time this month the Bhubaneswar headquartered NALCO has revised the price across all products because of the fluctuation of the aluminium price at the London Metal Exchange (LME), the official told IANS.
Last week, the company, which is India's third biggest aluminium producer, had cut the price by Rs.5,000 a tonne after raising it by Rs.6,000 a tonne earlier this month.
The official said the new rate will remain effective till June 30.
NALCO produced about 4.44 lakh tonnes of aluminium in fiscal 2011. The company has set a target to produce 170 lakh tonnes of aluminium annually by 2020, he said.
This is the third time this month the Bhubaneswar headquartered NALCO has revised the price across all products because of the fluctuation of the aluminium price at the London Metal Exchange (LME), the official told IANS.
Last week, the company, which is India's third biggest aluminium producer, had cut the price by Rs.5,000 a tonne after raising it by Rs.6,000 a tonne earlier this month.
The official said the new rate will remain effective till June 30.
NALCO produced about 4.44 lakh tonnes of aluminium in fiscal 2011. The company has set a target to produce 170 lakh tonnes of aluminium annually by 2020, he said.
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