National Aluminum Company (Nalco) forecast alumina and aluminum production will grow 3.5% |
| Author : Date : 12/14/2016 7:59:30 AM |
Tapan Kumar Chand, chairman of India's National Aluminum Corporation (Nalco), said aluminum production is expected to increase by 3.5 percent by the end of 2016, mainly due to domestic consumption and aluminum prices. Nalco's aluminum production will reach 385,000 tonnes by the end of the year, up 3.8 percent from last year's 372,000 tonnes.
Tapan Kumar Chand said the company is currently boosting production to capture the growth in demand in the domestic market. Allegedly, because of small profits so the company was considering raising production to increase profits.
In order to improve aluminum production capacity, the company will also increase the corresponding alumina production 9.1% to 2.13 million tons, alumina refinery capacity utilization from 85.85% to 93.62%.
Mr Chand said the company had tightened its alumina production capacity because of the high energy consumption and the high cost of coal needed for alumina refining. But now rich in coal resources, it can be said that spring has come.
Low energy costs coupled with LME price stability is expected to help companies increase revenue next quarter. |