In view of lowering international prices of aluminium products, the State-owned National Aluminium Co. Ltd. has reduced the price of its products for the domestic market by Rs. 7,000 per tonne, a senior company official said on Thursday.
?We have reduced the prices of all aluminium products because the London Metal Exchange aluminium prices have come down,? the official told IANS.
?The basic price of standard aluminium ingots and standard aluminium sow ingots would now be 107,700 rupees per tonne,? the official said.
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 Rs. 3,000 per tonne.
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, the official said.