BHUBANESWAR, Mar. 17 -- Indian state-run National Aluminium Co Ltd (NALU.BO: Quote) has increased prices of its aluminium products for the domestic market by 2,000 rupees ($43.9) per tonne, a senior company source said on Tuesday. NALCO is India's third-biggest aluminium maker that sells aluminium and alumina in the local and foreign markets. Its tenders are watched by international metal traders.
"We have increased the prices of all aluminium products because the LME aluminium prices have risen," said the official who could not be named due to company policy.
This is the second increase in prices by NALCO this month.
Aluminium prices on the LME MAL3 traded at $2,249 a tonne on Tuesday, up 13.6 percent from the year's low at $1,980 on Feb. 5 on improving demand for the metal.
The NALCO official said the basic price of standard aluminium ingots and standard aluminium sow ingots would now be 123,700 rupees per tonne.