National Aluminium reduces prices again

September 12th, 2008 - 5:05 pm ICT by IANS  

Bhubaneswar, Sep 12 (IANS) National Aluminium Co Ltd (Nalco), India’s second largest aluminium manufacturer, has slashed its basic metal prices for the second time within a month to match international prices, a senior company official said Friday.“We have lowered the prices of standard aluminium products by Rs.4,000 a tonne that includes Rs.1,000 special discount,” the official told IANS.

The discount will be withdrawn at the end of this month.

The standard aluminium price per tonne would now be Rs.132,000, he said.

Last month, Nalco had reduced aluminium prices by Rs.4,000 a tonne to Rs.136,000 a tonne.

The official said the price of aluminium is governed by the international market. The rate has been revised as its price has fallen on the London Metal Exchange (LME).

The new rate is applicable to all products except roll products, he said.

Nalso is India’s largest manufacturer and exporter of alumina and is the flagship public sector undertaking of the ministry of mines.

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