Bhubaneswar | Jan 26, 2017: “Aluminium market is in a slump and LME prices have come down by around 14% between 2015 and 2016. Globally, around 70% of the aluminium smelters have been incurring cash loss but Nalco has been consistently posting profits in the last 3 quarters,” said Dr. Tapan Kumar Chand, CMD NALCO while addressing the gathering after unfurling the tri-colour on Republic Day.

Nalco has changed its operation strategy to overcome the slowdown, from regulated production to maximizing production. The Company’s bauxite mine has posted production growth of 18% in the current fiscal and is expected to exceed its 100% capacity utilization. It may be mentioned that the average growth of bauxite production is 2.72% and 3.81% in the World and China, respectively.

The Company’s smelter plant will also exceed its MoU target, of 3.85 lakh tonnes, which was signed with the Ministry of Mines, Government of India. It may be noted that the robust growth in production has given a volume advantage to the aluminium major enabling it to report profits.

(Source: http://www.orissadiary.com/)