Nalco: Aluminum prices will be up due to power problems in Asia
By Purchasing Staff -- Purchasing, 7/17/2008 6:00:00 AM
India's largest aluminum producer, National Aluminum Co. (Nalco) raised its aluminum price forecast to $2,800-$3,000/metric ton, up from an earlier forecast of between $2,500 and $2,800. “Power problems have restricted supplies while demand is buoyant in Asia,’’ Nalco chairman CR Pradhan told Bloomberg, adding that alumina, which is smelted into aluminum, will likely trade between $350-$400/ton.
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