Hindalco cuts aluminium prices
New Delhi, June 15 (UNI) Hindalco, India's major aluminium producers from Aditya Birla Group, has slashed the metal prices by Rs 8,000 per metric tonne.
''We have cut down aluminium price by Rs 8,000 per metric tonne,'' Hindalco's spokesperson Pragnaya Ram told UNI from Mumbai.
The prices in London Metal Exchange (LME), which fell from 2,740 dollars per tonne to 2,517 dollars per tonne, were the reason behind Hindalco slashing its aluminium price. ''LME influences the metal market in India. We have to go with it'' she said.
Hindalco's move could force make others to cut their price.
However, sources have revealed that other aluminium producer National Aluminium Company Ltd (Nalco) has also slashed its prices by nearly Rs 8,000 per metric tonne.
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