India's NALCO sells aluminium at $242/T premium

BHUBANESWAR Thu Oct 4, 2012 5:08am EDT

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BHUBANESWAR Oct 4 (Reuters) - India's state-run National Aluminium Co (NALCO) has sold 3,000 tonnes of aluminium ingots at $242 per tonne premium over the average LME cash price on a cost, insurance and freight (CIF) basis, two company sources said on Thursday.

The metal will be shipped to the Singapore-based buyer in six batches of 500 tonnes each from November to April.

NALCO, whose tenders serve as a global benchmark, last sold 12,000 tonnes of aluminium ingots at close to $223 per tonne premium over the average LME cash price on CIF basis to a European buyer in July. (Reporting by Jatindra Dash; Editing by Jijo Jacob)

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