Nalco sees rebound in prices

Print this page Posted on : 11-27-2008 by recycleinme.com

National Aluminium Company sees aluminium prices averaging $2,000 a tonne in the first three months of next year because of productions cuts spurred by the global recession, its Chairman, Mr C.R. Pradhan, said. That compares with an average of $1,922 so far this month and today's three-month price of $1,815 a tonne on the London Metal Exchange. The metal, set for its biggest annual slide in 17 years, averaged $2,727 this year and $2,664 a tonne last year. Prices will have to rise as production has seen a sharp decline, Mr Pradhan said in a telephone interview.

Source : Business Line