India’s NALCO sells Aluminum at $165 /T Premium

Indian state-run National Aluminium Co Ltd (NALCO) sold 2,100 tons of aluminum billets at close to $165 per ton premium over the average LME cash price on a cost, insurance and freight basis, a senior company official said.

The metal will be shipped in six batches of 350 tons each from April to September to a Hong Kong based trader.

NALCO, whose tenders serve as a global benchmark, last sold 12,000 tons of aluminum ingots at close to $113 per ton premium over the average LME cash price on a cost, insurance and freight basis to a European trader on March 13,  commercial director Ansuman Das told Reuters on Saturday.