Nalco Sells 150,000 Tons of Alumina Through One-Year Contract

Oct. 13 -- National Aluminium Co., India's largest alumina producer, sold 150,000 tons of the aluminum- making raw material to a Europe-based trader. The alumina was sold at 12.88 percent of the aluminum price on the London Metal Exchange through a one-year contract, Chairman C.R. Pradhan said by phone yesterday. At the current price of $2,453 a metric ton on the LME, the alumina would be priced at $316 a ton. The company, known as Nalco, invited bids on Sept. 25 from buyers to sell 300,000 tons of alumina. The company will sell alumina in cargoes of as much as 30,000 tons, Pradhan said by phone from Bhubaneswar in eastern India. "The company will fix the price of the remaining 150,000 tons next week," Pradhan said.