NALCO to hike aluminium price

NALCO has raised the metal price by Rs 3,500 per tonne, the fifth time during the last four months.

Riding on fluctuations of aluminium price in global markets, state-owned aluminium major NALCO has raised the metal price by Rs 3,500 per tonne, the fifth time during the last four months.

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"We have raised aluminium price by Rs 3,500 per tonne in view of the rising international price for the metal especially in the London Stock Exchange. There is no other reason behind the said hike," NALCO Chairman-cum-Managing Director CR Pradhan told said over telephone from Bhubaneswar.

The average rate of various grades of aluminium has been raised to around to Rs 1,10,000 per tonne.

He said the PSU expected the price to be stabilised after January or that the price could have to be decreased, as conditions demanded.

In the past whenever, NALCO raised the prices, the same was attributed to corresponding hike in the metal price in neighbouring China, which is why NALCO CMD made it clear that nothing of such kind influenced the current price rise.