As floods of cheap Chinese imports have led to smelting capacity withering in many parts of the world, the truncated industry in the US is lobbying the Obama Administration to take steps that will force Beijing to cut output
Proposed safeguard duty will have limited benefits for majors here; prospects hinge on upside in prices
Metal for delivery in May contracts fell by a similar margin to trade at Rs 1120.20 per kg in 52 lots
Traders said increased demand from consuming industries and reports of a firm trend in its prices in Asian region kept aluminium prices higher
Analysts say a short-term mismatch in supply and demand may help support aluminium price recovery