50% Decline in Aluminium Demand in India Offset by Surge in Export

Crisil Research in its report said that a rise in primary aluminium exports has helped manufacturers of the commodity tackle a sharp decline in domestic
50% Decline in Aluminium Demand in India Offset by Surge in Export
Aluminium Demand India COVID19

demand in the wake of the COVID-19 pandemic. Primary aluminium exports rose by 50 per cent in the first quarter of the current fiscal and constituted over 75 per cent of the total production of the commodity. Among the destinations, the exports have surged to countries that have had early success in containing the pandemic, such as China, South Korea and Malaysia.

On the domestic front, primary aluminium demand is estimated to have plunged 45-50 per cent on-year in the first quarter following the nationwide and local lockdowns to contain the COVID-19 pandemic

But, India's primary aluminium production fell just 5 per cent during the quarter due to the export salve.

Related Stories

SteelGuru Business News
www.steelguru.com