Bhubaneswar: The Nalco CMD Dr. Tapan Kumar Chand is quite optimistic about the aluminium market looking up in coming days.
“In coming days, aluminium market is going to shine,” Dr.Chand said. His hope stems from the fact that the LME prices for aluminium has been continuously moving up from 1880 US dollar per tonne before a couple of days to 2039 US dollar per tonne now.
“There are reports that China will be closing down production in smelters to the tune of 3.2 million tonne on grounds of pollution. There is short supply of aluminium in North America and Europe. The estimated global production in 3rd quarter of 2017 will be balancing production with consumption having low global inventory. This coupled with increase in input cost are likely to hold the price.”
The CMD, however, cautioned. “But uncertainty still remains on account of China starting low cost smelters, surfacing of unreported inventory, buyers adopting wait and watch.”
In Nalco, Dr.Chand said, “We are concerned on rising input cost and its availability in respect of caustic soda, aluminium fluoride, CT Pitch, Petroleum Coke”. He urged the Nalco collective to geared up to meet the challenge.
Under Make in India initiative, Nalco has taken steps to enhance its capacity through expansion mostly in Odisha, rather than exporting its alumina outside. Our 1 million ton Alumina Refinery at Damanjodi, development of Utkal-D&E coal block and Angul Aluminium Park are a few of our ongoing projects in the state”, said Dr. Chand.