Aluminium rose as much as 2.5% to $3,040 a ton on the London Metal Exchange Monday, the highest since July 2008.
Primary steel producers, however, remain unperturbed as they rely on imported coking coal to meet their demand
Tightening supplies of coal have triggered a power crisis in India as about 70% of the nation's electricity is fired by the fuel.
Prices rallied as much as 2.9% to $2,726.50 on the London Metal Exchange, hitting the highest since 2011
Demand is set to surge on the back of climate-change investment
Aluminum-air battery is potentially cheaper, vehicles using it would have a longer range, and it's safer, say experts.
The trend for aluminum has shifted from 'neutral' to 'positive'
In gold, fresh selling can commence below 46,800 levels while buying can commence above 47,300.
It seems that a near term top has been established in aluminum and we might see pullback till levels of 158 before uptrend resumes
Raw material prices like steel,aluminium, copper and rubber are increasing with the full impact of cumulative increases to be felt in Q3 and Q4 of this financial year
Company aims to invest Rs 7,000 crore in downstream segment over next few years
Zinc, aluminium poised for correction as prices move ahead of fundamentals
"We don't expect a runaway rally in gold as ETF outflows will put pressure on the price," the expert says.
Out of the total deliveries of metal, aluminium accounted for 30,771 tonnes, copper 24,852.50 tonnes, lead 10,517 tonnes, nickel 3,646.50 tonnes and zinc 37,027 tonnes
Natural Gas has breached its previous resistance of 163
The applicants have alleged that dumping has impacted the industry and has requested for imposition of the anti-dumping duty on the imports
Once operational, the coal block will save power costs by 10-15%, get company closer to its avowed aluminium Cost of Production of $1,500 per tonne
Equity class has seen a massive sell-off and investors are looking for assets to sell not bothering to see which asset to sell but finding which assets they can sell.
Alumina production at Lanjigarh was up 16 per cent y-o-y to 476,000 tonnes
Experts see the real recovery may prove evasive if virus continues to spread