Nov 18, 1999|
Aluminium output jumps 16% in first half
Aluminium output has registered a growth of 16% (YoY) during the first half of the current fiscal year. National Aluminium, a public sector company, posted the highest growth in output at 60% (YoY).
The Indian aluminium companies have had a dream run throughout the first half of the current year. The revival in the Southeast Asian economies and the global demand in general boosted the demand and price of aluminium. This was aided by the closure of a large capacity due to an accident, further enhancing realisations. Finally, a recovery in domestic demand boosted the prospects of domestic aluminium companies.
The total production during the first half has been pegged at 298,000 MT. This is however short of the industry target of 304,000 MT.
The aluminium sector was one of the first to feel the pinch of international competition as import duties were slashed. However, the aluminium companies have done well and today command an enviable position in international markets. Indian aluminium companies rank among the most cost efficient producers of the metal the world over. This is mainly due to the advantages of the integrated nature of operations, availability of bauxite and cheap labour.
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