National Aluminium Co. Ltd. (NALCO), India's second-biggest aluminium producer, has raised prices for a second month after the metal reached a five-month high on the London Metal Exchange (LME).
Prices were raised by as much as Rs8,000, or 6.3% to about Rs133,950 a ton. The state-run NALCO had hiked prices by as much as Rs5,700 or 5% last month.
Hindalco Industries Ltd., India's biggest aluminum maker, yesterday raised its prices by Rs9,000 per ton to about Rs137,750.
Aluminium rose to a five-month high of US$2,835 a ton on Oct. 30. According to industry experts, aluminium prices may rise to US$3,000 by the end of the year on rising demand from China and the US, the world's biggest users of the metal. The metal has gained 43% in the past year.
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