Indian Aluminium Producers Likely To See Pressure on Profits ¨C Mr TK Chand

Business Standard quoted NALCO CMD Mr Tapan Kumar Chand c as saying that India's aluminium producers may see pressure on their profits because they have nearly full capacity utilization at a time when global prices are falling. Mr Chand said that “The threat of increasing aluminium import which accounted for 58.9 per cent of total aluminium consumption in 2018-19 persists. Support from the government in countering the same shall help the domestic producers to safeguard their market share and profitability.”

Mr Chand told shareholders at the company's annual general meeting metals prices are falling globally on fear of global economic slowdown, but he expects the demand for aluminum to remain strong, driven by automobiles, construction and power sectors. NALCO has decided to go ahead on its investment plans despite the current pressure on aluminum prices.

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