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Indian Aluminum Producers Worry about Chinese Exports

Monday, Dec 03, 2007
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Bombay, Dec 3 – Chinese aluminum export is worrying Indian aluminum producers, due to the exports of primary aluminum up by 66% year-on-year. The export growth of primary aluminum in China shows a strong up trend over January to September, which is very important for market, due to the falling of LME aluminum price. China exported 1.439 million tons aluminum products over Jan-Sep, up 66% compared with the same period last year. The Chinese government tries to suppress aluminum exports, but in vain. Besides, LME aluminum price is $2,443 per ton; the quarterly average price between July and September is $2,618 per ton. The Indian producers, such as Hindalco and Nalco, are effected by the soft of aluminium price and the rising of 13% of rube since the start of 2007. The aluminum inventory in Asia (including India) slides to 337,000 tons in October from 345,000 tons in the same period in 2006.

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