Nalco alumina tender goes for $423 per tonne

MUMBAI, India -- A National Aluminium Co.(Nalco) global tender for the sale of 30,000 tonnes of alumina was won with a bid of $423 per tonne FOB by Gulf Resources Corp of Dubai. The winning bid was much higher that market oberservers were predicting last week. Gulf Resources is a new company and sources suggested its high bid might reflect the fact it has commitments in the market.