...Sees Reduction In Aluminium Exports

National Aluminium Co (Nalco) said yesterday it expects its aluminium exports to fall to 55,000 tonnes in 1997/98 (April-March) from 65,000 in 1996/97.

I think our exports will be about 55,000 tonnes this year, Nalco chairman S N Johri said in a telephone conversation from Bhubaneshwar. Johri said that in 1996/97, LME prices were depressed, spurring Indian imports of aluminium to meet domestic demand.

But this year, LME prices are higher, Johri said. Therefore imports (by India) will be less. Hence, the domestic demand has to be met mostly by domestic supplies. That would reduce the availability for export, he added.

 

Traders in Singapore said last week that the volume of aluminium shipments from Natinal Aluminium Company had dipped to about 300 tonnes per week compared with a normal average of 500 to 800. I think exports this month will be the same as last month, Johri said. Nalco exported 4,653 tonnes of aluminium in May. Johri did not give weekly export figures.

Nalco, Asias largest aluminium maker, produced 203,650 tonnes in the year 1996/97 compared with 192,288 tonnes in the year 1995/96. It produced a total of 33,851 tonnes of aluminium in April and May compared with 34,725 tonnes in the same two-month period in 1996. (Reuter)