NALCO cuts aluminium prices after global fall

National Aluminium Co Ltd (NALCO), India's third-largest producer of aluminium, cut domestic prices of aluminium ingots by 3% following a drop in global prices, two company officials said on Friday.

NALCO has been cutting prices over the past three months, during which aluminium prices have fallen about 8%.

The state-run company cut prices by Rs 4,000 to Rs 126,700  per tonne for standard aluminium ingots, the officials, who did not wish to be identified, told Reuters.

Prices of wire rods and billets have been reduced by Rs 3,500 , they said.All price changes will be effective from Thursday.