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Flagging consumption and import surge hurt India's aluminium producers

Sales of aluminium companies fell by 10.8 per cent in the period as imports lead market.

Nalco rides on London Metal Exchange gains, sees room for more price hikes
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Global aluminium prices on the LME have dropped 21 per cent year-on-year during April-June to average at $1793 per tonne

Jayajit Dash Bhubaneswar
Demand for aluminium in India grew by seven per cent in April-June quarter of FY20, but that failed to perk up producers as consumption growth moderated in industries facing liquidity crunch.

Sales of aluminium companies fell by 10.8 per cent in the period as imports grabbed a bigger share of the consumption pie.

“The share of imports to domestic aluminium consumption has risen to 60 per cent at the end of June. Overall imports witnessed spike of eight per cent while scrap imports rose eight per cent in the June quarter. The unabated rise in imports is worrisome for the primary aluminium

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First Published: Aug 20 2019 | 6:46 PM IST

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