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Indian aluminum producers under pressure on falling prices and higher input costs
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It’s reported that the Indian aluminum producers such as National Aluminum Company Limited (NALCO), Bharat Aluminium Company Ltd. (BALCO) and Hindalco have been under pressure due to falling aluminum prices at London Metal Exchange (LME) and higher input costs.
According to a senior official of NALCO, the firm is offering a discount of INR2, 500/ton on domestic list prices because the prices at LME are lower. The current average aluminum prices in Indian domestic market are at INR130, 000/ton while that at LME is around US$2,000/ton.
However, the coal prices have continued rising in Indian market due to shortage, causing the Indian aluminum producers face high input costs.
Affected by these factors, the Indian aluminum manufacturers’ margins have been under pressure.
News Date
6/7/2012 4:46:54 PM
reported by
Ina Chao
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