Metalnewsnet 17 May ：

IANS reported that the State owned National Aluminium Company Limited has reduced the price of its products for the domestic market by INR 7,000 per tonne.

A senior company official said that we have reduced the prices of all aluminium products because the London Metal Exchange aluminium prices have come down. The basic price of standard aluminium ingots and standard aluminium sow ingots would now be INR 107,700 per tonne.

He said that this is the second decrease in aluminium prices by the company this month for domestic market. Early this month it had reduced prices of its aluminium products by INR 3,000 per tonne.

The official said that NALCO is India’s third largest producer of aluminium. The company, which sells aluminium in both domestic and international markets, produced 431,000 tonnes of aluminium in the financial year ended in March. It has set a target to produce 1.7 million tonnes of aluminium annually by 2020.

( from IANS)