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15 JULY 2021 AL CIRCLE

Cameroon’s aluminium producer ALUCAM suspends formerly declared 8% price rise

EDITED BY : RUPANKAR MAJUMDER 2MINS READ

The Cameroonian aluminium producer ALUCAM on 13th July 2021 puts suspension on its declared around 8% price rise which was effective from 12th July 2021.

ALUCAM suspends price hike

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The aluminium company did not come up with any clarifications; expect it stipulated that the cause of suspension remains in the hands of internal administration.

While as per our country sources, the suspension on the price hike was due to compulsion exercised by the government, through the Ministry of Trade, which is against the price hike for the moment.

ALUCAM suspends price rise

ALUCAM professed to its customers that the price hike was due to the surge in prices of the raw materials and the additional costs induced in regards to logistics chain disruptions caused by the Covid-19 pandemic.

The price rise suspension prevents the speculation fears, which would have deeply impacted consumers. In reality, the direct consequences of the price hike would shot up in the price of roofing sheets manufactured by Socatral (a division of ALUCAM) and local firms. Eventually, this rise would have fuelled retail prices offered by Alubassa, another division of ALUCAM that specializes in the manufacturing of cooking utensils.

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However, it has been reported to us that multiple industry experts envision that the suspension of this price rise will soon be pulled back, provided the company’s distressed financial position and in the international market context of the rise in prices of alumina.


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EDITED BY : RUPANKAR MAJUMDER 2MINS READ

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