BHUBANESWAR: The state-run National Aluminium Company Limited (NALCO) has cut its aluminium price by Rs.2,500 per tonne for the domestic market as the international price of the product has come down, a senior company official said Thursday.

"We have decreased the price by Rs.2,500 per tonne of all aluminium products in the domestic market and it will be effective till March 31," the official told IANS.

The price of aluminium is governed by the international market. The rate has been revised as its price has fallen on the London Metal Exchange (LME), he said.

NALCO is India's second largest aluminium manufacturer. The company has set a target to produce 1.7 million tonnes of aluminium annually by 2020.