MTECHTIPS;- Aluminium Prices gain by 21% in in the month of November

MTECHTIPS;- Aluminium Prices gain by 21% in in the month of November 2017

MTECHTIPS-Aluminium prices gained by 21% at Rs 2101 per kg to end the month of November 2017. On a monthly basis Aluminium prices declined by 1.43%. The data estimates from International Aluminium Institute (IAI) showed that Aluminium production was up to 4.957 million tonnes in October 2017, from 4.93 million tonnes in September 2017. On a yearly basis, Aluminium production shrieked by 3.5% from 5.13 million tonnes in October 2016. China Aluminium production was 2.54 million tonnes in October 2017, up from 2.60 million tonnes in September 2017. Indian industry is in the midst of a mini-crisis more specifically, a power crisis. The power shortage had become so critical that many of India’s aluminum smelters dashed off a letter to Prime Minister Arena Modi seeking his intervention to defuse the fuel crisis. Between April and October this year, Coal India Ltd (CIL), the state-run monopoly, had managed to produce 278 million tons (MT) of coal, while it sold 317 MT by liquidating some existing stocks. Reports said its total stocks at the beginning of the year was about 68 MT, which now stood at 29 MT. Other subsidiaries, like Central Coalfields, Mahayana Coalfields and Central Coalfields, saw their production during the period fall by 9.1%, 17.7% and 2.3%, respectively

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