National Aluminium Company Limited (Nalco) shares declined by 4% today, closing at ₹207.75, as alumina prices witnessed a significant drop of 5%. This decline is further attributed to a contraction in Asia and Africa’s metallurgical-grade alumina production, which fell 5.18% month-on-month in November 2024, as reported by the International Aluminium Institute.
Key Production Insights:
- November Output: Asia and Africa produced 1.135 million tonnes of metallurgical-grade alumina, down from 1.197 million tonnes in October.
- Global Share: The region contributed 9.8% to the world’s total alumina output of 11.508 million tonnes, a slight drop compared to last year’s 10%.
- Yearly Trend: From January to November 2024, metallurgical-grade alumina production in the region fell by 6.54%, amounting to 12.601 million tonnes compared to 11.828 million tonnes during the same period last year.
- Chemical-Grade Growth: On a positive note, chemical-grade alumina production in the region rose by 12.93% to 297,000 tonnes during the same period.
The drop in alumina prices and regional production figures has dampened sentiment around Nalco, a key player in the aluminium industry. Investors will keep a close watch on market developments and production metrics in the coming months.
