elevated global aluminium prices augur well for domestic aluminium players
News:The ongoing dispute between Russia and Ukraine has resulted in a steady uptick in global aluminium prices over the last few weeks. LME Aluminium prices are currently trading at ~US$3300-3350/tonne, a 13 year high.
Views: Russia accounts for ~6% of world's overall aluminium supplies and is also one of the major exporters of aluminium globally. Aluminium was a deficit commodity in CY21 and the deficit is likely to continue in CY22E also. Hence, the ongoing Russia Ukraine dispute is likely to keep LME Aluminium at elevated levels auguring well domestic aluminium players such as Hindalco