Aluminium makers cut prices

Hindalco Industries and National Aluminium Co, India's biggest producers of the metal, reduced prices for a fifth time this year to match global rates.

Prices were cut by Rs 3,000 ($73), or 2.4 per cent, to Rs 120,500 a tonne, Hindalco Industries spokeswoman said in Mumbai. National Aluminium cut prices by Rs 4,000 to Rs 119,500 a tonne, Chairman C R Pradhan said.

Nalco exports 64 per cent of its 1.6 million tonnes a year alumina production at prices linked to those on the London Metal Exchange.

Hindustan Zinc, the country's largest producer of the metal, raised lead prices by Rs 1,300, or 1.2 per cent, to Rs 106,800 ($2,607) a tonne, the Udaipur-based company said in an e-mailed statement. Zinc prices were kept unchanged at Rs 171,600 a tonne.