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Aluminium on a roll - Views on News from Equitymaster
 
 
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  • Aug 10, 1999

    Aluminium on a roll

    The Aluminium industry has been witnessing heady times. While the production has moved up by 10.4% during April - May (source CMIE) 1999 over the corresponding period previous year, the prices too have recovered from the February levels.

    The improvement in domestic prices is mainly due to the improvement in world wide aluminium prices, which have moved up due to the increased demand from China, Japan and South Korea. The LME price at the end of June was $ 1,350 (up from $ 1,212 in April 1999). An accident at a large smelter at Kaiser aluminium resulted in a supply gap, which helped the price rise.

    A faster than expected economic recovery in the Southeast Asian and Japanese economies has led to a general improvement in demand scenario. Moreover, as fresh capacities are unlikely to come up in the near future the demand supply gap is expected to widen.

    As per newspaper reports, Indian aluminium companies, which are currently implementing expansion plans, are expected to reap the benefits of such a shortfall in the market.

     

     

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