Industri

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13.06.2019 kl 00:35 2245

Aluminium prices to recover in 2H19, trade war a risk, says NALCO
Updated : June 12, 2019 01:08 PM IST

The average alumina price currently is at $370 per tonne versus USD 470 per tonne from last year
TK Chand, chairman and managing director of NALCO, expects aluminium prices to recover in the second half of 2019

s trade tensions continue between the United States and China, base metal prices have taken a hit in the domestic market, with aluminium prices correcting from mid-2018 levels to approximately $1,750 per tonne. TK Chand, chairman and managing director of National Aluminium Company (NALCO), said he expects aluminium prices to recover in the second half of 2019, though the trade war is a risk.

“Aluminium demand is likely to pick up in the US and also in European countries particularly Germany. In India, with strong and stable government, we expect that a lot of investment decisions will be taken which will push up the demand,” he added.

The average alumina price currently is at $370 per tonne versus USD 470 per tonne from last year. "We expect global alumina average prices to recover to USD 380-400 per tonne despite surplus," said Chand.

Speaking about sales and production target for FY20, the CMD said, “We expect that aluminium prices may move between $1,800 and $1,900 because right now aluminium prices are at rock-bottom. It cannot remain at that level because all smelters would then die out. Therefore, it will definitely improve and USD 1,800-1,900 will be the range within which it will be moving.”

“We are keeping the target of aluminium production at the same level of that of the last year that is 4.4 lakh tonne and in case the market picks up then we will be increasing it to 4.6 lakh which is the capacity,” he further added.

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