Commodity - Aluminum Prices and Bauxite Ore Trading
October 26th 2011 19:58
Link: www.businessfork.com
The aluminum demand in Indian has increased to 14 percent in the year 2010-2011. The source for production of Aluminum is from Alumina which is obtained from Bauxite ore. The plants in India will increase the production of Alumina four times and the production on Aluminum by almost three times in the coming three-five years.
The global prices of Aluminum are showing the downward trend in the month of September 2011. Not only Aluminum metal but other metals on LME has seen the dip. Copper is down almost 15 per cent, zinc by 14 per cent and aluminum by 10 per cent.
The aluminum metal was trading between US$ 2,000 per ton to US$ 1,900 per ton. The market has fallen from three months high of US$ 2,224 per ton.
In Qatar, the production at aluminum smelter Qatalum has started its full production capacity of 585,000 tons this September. The Aluminum smelter Venalum in Venezuela is facing the power crisis and low prices of their production. The plant is expecting to improve its production capacity to 270,000 tons per year. China is also planning to develop bauxite mines in Guinea which is world’s top exporter of bauxite ore.
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