According to the Aluminum Association of India, aluminum prices are expected to remain stable at current levels without any steep increases in the coming months. Prices are expected to hover between USD 2,200 and USD 2,500 in the coming months.
The AAI, which is hosting the 3 day International Conference on Aluminum in Hyderabad from December 6 has estimated that the domestic aluminum sector will see an investment of INR 120,000 crore till 2015 as aluminum manufacturers go in for expansion of capacity. Aluminum production is expected to go up from the current 1.8 million tonnes to 5 million tonnes by 2017 and 10 million tonnes by 2020.
AAI however feels that India may face an aluminum surplus by 2013, a subject that will be discussed at the international conference.
Mr KSS Murthy, Honorary general secretary of the association said that “Another issue that will be discussed is China exporting the metal to India at prices even lower than the LME prices. We will appeal to the Government to impose some safeguard duties to check the cheap Chinese imports.”
He said that the association was planning to bring out a prototype of an aluminum intensive bus to encourage more aluminum consumption in the public transport system, as use of this metal would result in considerable fuel savings. The conference will also discuss the need for India to ban export of bauxite for the benefit of the domestic industry. India has the fifth largest bauxite reserves in the world.
Mr Murthy said that during the conference, AAI will enter into MoU with the Aluminum Association of America for better interaction between the two industries for technology transfer and marketing.
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