04 JUNE 2013The Economic Times
India’s aluminium production eludes target by 16.5% in 2012-13
Edited by : AL CIRCLE
1 min read
India’s aluminium production was lower by 16.5 per cent at 1.72 million tonne in 2012-13 fiscal as against the target of 2.06 million tonne, a senior official of the Department of Mines said.
However, it was 3 per cent up compared to 1.67 million tonne produced in 2011-12, he said.
“There are various reasons for not achieving target. Non-availability of bauxite on time for some of the units has crippled production and falling global prices also contributed to non-achieving targets,” the official said.
“Aluminium prices at London Metal Exchange have fallen by 15 to 20 per cent. We expect the prices to go up by the latter half of the year. It is common for the countries. The more they produce now, the higher the losses they incur,” he said.
However, it was 3 per cent up compared to 1.67 million tonne produced in 2011-12, he said.
“There are various reasons for not achieving target. Non-availability of bauxite on time for some of the units has crippled production and falling global prices also contributed to non-achieving targets,” the official said.
“Aluminium prices at London Metal Exchange have fallen by 15 to 20 per cent. We expect the prices to go up by the latter half of the year. It is common for the countries. The more they produce now, the higher the losses they incur,” he said.
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