Reuters reported that National Aluminium Company Limited, India's No. 3 producer of aluminium has further cut aluminium prices by INR 2,000 per tonne in the domestic market following a drop in global prices.
Two company sources said that the revision, which is effective March 22, reflects the changes in London Metal Exchange rates.
NALCO at the start of this month cut prices by INR 5,000 per tonne besides offering a discount of INR 1,500 per tonne across all products from March 1. The discounts expire at the end of the month.
With the latest move the basic prices of standard aluminium ingots stand trimmed at INR 133,700 per tonne. NALCO revises product prices from time to time to mirror London Metal Exchange prices.
