India's National Aluminium finalizes 300,000 tons of alumina export orders

Based on the London Metal Exchange (LME) offshore aluminum price of 16%, India's state-run National Aluminum Corporation (Nalco) has finalized a long-term contract for 300,000 tons of alumina exports, an official said on Thursday.

“The European buyers will receive alumina in batches from January to December 2012.” Ansuman Das, the company’s director (commercial), told the author and added that he had received six bids for the tender.

Last November, National Aluminum Corporation finalized a long-term contract to supply 180,000 tons of alumina to Alaska Metals AG. The contract stipulates that both parties will trade on the basis of offshore prices in 2011 and use 15.92% of the monthly average price of aluminum on the London Metal Exchange (LME).