Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

India’s state-backed National Aluminium Company (Nalco) registered a nine-fold increase in net profits to Rs13bn (17.5mn) in FY2021 (ended March 31, 2021) amid favorable LME prices, increased exports, and strong sales. 


The company said in a statement on Tuesday that aluminum production was steady at 418,000mt over the past fiscal and that the smelters are already working beyond their estimated annual capacity. Nalco noted that at 192,000mt its exports achieved a new record high in this period, though it did not disclose prior-period figures. 


Moreover, the producer’s mines are at peak operating status, with bauxite production hitting a record 73,650mt. In January, Nalco said that it plans to invest close to Rs300bn in expanding its mine, refining, and smelting capacity which will lead to a 500,000mt increase in metal production over the next eight years. 

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