NALCO, one of India's leading producers and exporters of alumina and aluminium, has raised aluminium prices by Rs 5,000 ($113) per tonne across all products, after slashing prices by a net Rs 8,000 on previous two occasions. The basic price (ex-works) of standard aluminium ingots after the latest revision has been increased to Rs 14,4200 per tonne.
Earlier, NALCO had cut aluminium prices by Rs 3,000 a tonne on July 15 following a drop in London Metal Exchange (LME) rates, barely a month after it shaved Rs 5,000 off the price.
Recently, NALCO was in talks to invest in an aluminium smelter in Indonesia's Kalimantan province. Indian firms including Nalco are also interested in investing in geothermal power, railways and cement production in Southeast Asia's biggest economy.
