The Aluminium major said that the key concerns in the markets are inflation and Reserve Bank of India rate actions. The project activity in India has moderated due to lower liquidity.
Aluminium consumption rose by 14% in FY 11 to 2137000 tons as compared to 1877000 tons in FY 10. The growth rate of consumption moderated in the second half of FY 11 to 8% from 20% in the first half of 2011. Meanwhile, Refined Copper consumption in FY 11 declined to 374000 tons as against 383000 tons in FY 10, down 2.3%.
The key concerns of sovereign debt and its further spread to other economies will test the recovery process of the company. Geopolitical concerns and higher inflation will be another laggard for the prices. Another concern was the increase in Electricity prices in China.
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