India's NALCO sells aluminium at $165/T premium

BHUBANESWAR: Indian state-run National Aluminium Co Ltd (NALCO) sold 2,100 tonnes of aluminium billets at close to $165 per tonne 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 tonnes each from April to September to a Hong Kong based trader, commercial director Ansuman Das told Reuters on Saturday.

NALCO, whose tenders serve as a global benchmark, last sold 12,000 tonnes of aluminium ingots at close to $113 per tonne premium over the average LME cash price on a cost, insurance and freight basis to a European trader on March 13.