Monday 16 July 2012

Nalco Says Aluminium Prices May Rise Up To 10% In 2-3months

Aluminium prices may rise by up to 10% in 2 to 3 months to USD$2,000 per tonne due to subdued supply in the international market. Nalco affirmed that The price of aluminium should recover from the present level of USD 1,850 per tonne.

In the next 2 month to 3 months it should cross USD$2,000 per tonne. Aluminium prices have remained subdued so far in this fiscal because of poor demand from all across the user sectors like transport, packaging and construction which account for nearly 70% of the global 42 million tonne consumption of the metal.�

They said that condensed margins have forced a lot of aluminium capacity to put on hold as the price of the metal is on the wane while the raw material costs are on the rise. We were hoping the price of aluminium should average between USD$2,100 per tonne to USD$2,200 per tonne in the current fiscal.

But it is nowhere near there. For the last four months the price is below USD$2000 per tonne. So, even to arrive at the targeted price, the price should be USD$2,300 to USD$2,400 for the rest of the period, which they feel it was not going to happen. [ Via ]

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