Indian Aluminum Makers Cut Prices to Match Fall in Global Rates

May 3 -- Hindalco Industries Ltd. and National Aluminium Co., India's biggest producers of the metal, reduced prices for the third time this year to match global rates.

Prices were cut by 4,000 rupees ($100), or 3 percent, to 127,000 rupees a metric ton, National Aluminium Chairman C.R. Pradhan said by telephone from Bhubaneswar. Hindalco matched the reduction, Spokeswoman Pragnya Ram said in Mumbai.

The price of aluminum, used to make beverage cans, auto parts and aircraft, have declined 1 percent this month on the London Metal Exchange.