NALCO tender for term alumina supply underway

India's state-owned Nalco is currently in the process of holding a tender for a term contract to supply 300,000t of alumina. The company is reported to have received 10 bids and will make an award in around a week's time after negotiating with bidders. The bids are reported to be below 13% of the LME aluminium price. Two term tenders in Q4 2006 went for 11.4% and 9.6% of the LME aluminium price.