Global headwinds, slowing economy shrink Q2 domestic aluminium demand by 6%

In Q1 of FY20, the country's GDP growth touched a six-year low of 5%

Global headwinds and a slowing economy led to the domestic aluminium demand falling 6 per cent during the September quarter to 0.96 million tonnes (mt).

Domestic demand has grown a marginal 0.1 per cent year-to-date. Firm demand in aluminium  consumption has been one of the bright spots for domestic producers, helping them combat headwinds like tepid  LME (London Metal Exchange) prices.

Prices on the LME slumped 14 per cent to $1,762 per tonne at September end, compared to last year. 

Of late, Indian aluminium demand is aligning with the global demand, where growth is expected to fall 0.4 per cent in CY19, the