Aluminium at $2,500-$2,700 per tonne range for next 2-3 months: NALCO
10 Jun 2011
According to state run- National Aluminium Company Limited (NALCO), aluminium prices are likely to remain in the $2,500 to $2,700 a tonne range for at least the next two-three months.
NALCO chairman-cum-managing director, B L Bagra told IANS yesterday that the company believed that in the short term in next two to three months the prices should remain range-bound between $2,500 and $2,700.
NALCO, which is India's third largest aluminium producer, is a small player in the global metal market, its sales prices, however, serve as an international benchmark.
Bagra added that demand was very slowly but steadily growing with the recovery in transport sector coming back in Europe.
According to Bagra, the equilibrium of demand and supply would continue to stay balanced for the rest of this fiscal up to December.
He added aluminiums prices would largely be influenced by the strength of the dollar and other major currencies. He said these had been under pressure for quite some time.
Bagra said that by the end of the current financial year ending March aluminium prices should end up at around $2700 a tonne.