India Nalco Sells Aluminium at $97/t Over LME-Source

BHUBANESWAR, India, Sept 15 (Reuters) - Indian state-run National Aluminium Co Ltd (NALCO) (NALU.BO: Quote) sold 6,000 tonnes of aluminium ingots at $97 per tonne over the average LME cash price on a cost, insurance and freight basis, a company source said on Wednesday.

NALCO will supply the metal to Swiss trader Glencore in six batches of 1,000 tonnes each from October to March, said the source, who has direct knowledge of the deal but could not be named due to company policy.

"The number of bids received for the tender was seven", he told Reuters.

NALCO, whose tenders serve as an international benchmark, previously sold aluminium ingots last month at $95.13 a tonne over the average LME cash price on a cost, insurance and freight basis.