NALCO slashes aluminium prices due to global slump

India's third largest aluminium producer, National Aluminium Co Ltd (NALCO) has cut domestic prices of aluminium ingots by 3%. The company has adopted the recent move due to the fall in the global prices.

NALCO has been cutting prices over the past three months, during which aluminium prices marked a drop of about 8%. The state-run company slashed prices by Rs4,000 to Rs1,26,700 per tonne for standard aluminium ingots; whereas the prices of wire rods and billets have been reduced by Rs3,500.

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