NALCO cuts aluminium price by $79.4 per tonne

MUMBAI (Reuters) - Indian state-run National Aluminium Co Ltd (NALCO) has cut its aluminium price by 4,000 rupees ($79.4) per tonne effective Thursday, its chairman said. "I hope that by reducing the price, sales will improve," C.R. Pradhan said, adding the company would consider at the end of the month if it needed to cut production. The price of aluminium would be about 96,000 rupees per tonne, an official from the company's marketing department said. Alumina prices remain unchanged, he said. ($1=50.4 rupees)