Import surge chokes top line of aluminium companies in Q2 of FY19

Overall domestic sales of top producers Hindalco, Vedanta and Nalco inched up only 3.56%; all three firms had their market share eroded

Nalco rides on London Metal Exchange gains, sees room for more price hikes

Aluminium companies floundered in domestic sales during the July-September quarter of this fiscal despite robust demand and firm production growth. A swarm of imports accentuated by the US-China trade war ate into the market share of the three primary aluminium producers -- Hindalco Industries, Vedanta Ltd and state run National Aluminium Company (Nalco) whose overall domestic sales during the quarter inched up only 3.56 per cent. In Q2 of FY19, aluminium demand witnessed a spike of 16 per cent year-on-year (y-o-y) to 847,000 tonnes. Consumption of the white metal, too, grew at 14 ...