Hindalco Industries lowers prices

Hindalco Industries Ltd., India's biggest aluminum producer by value, reduced prices for a fifth time this year to match global rates.

Prices were cut by Rs 3,000 ($73), or 2.4 per cent, to Rs 120,500 a metric ton, spokeswoman Pragnya Ram said in Mumbai.

National Aluminimum Co. has yet to take a decision on prices, Chairman C.R. Pradhan said.