Aluminium exports jump to 36% in 2017-18
Aluminium exports from the country increased by 36 per cent in 2017-18, aided by global demand, which outstripped supply.
A spurt of 21 per cent in the commodity’s prices on the London Metal Exchange (LME); US sanctions on UC Rusal, one of the largest producers; and over-supply to the domestic market helped exports to rise in the last financial year and the trend is expected to continue in 2018-19.
Aluminium prices were also strengthened by a rise in input costs as prices of key ingredients such as alumina, caustic soda, petroleum coke and coal tar pitch shot up during the period.
South Korea accounted for the largest export of Indian aluminium products (31 per cent), followed by Malaysia (30 per cent) and the US (11 per cent).