Aluminium sector: Facing a double whammy

September quarter results for aluminium majors likely to be impacted by lower prices, higher energy costs.

Aluminium prices have corrected by more than 40 percent from the high of around $3,950 per tonne witnessed in March 2022. The average aluminium prices from January-August, stood at $2,900 per tonne, against $2,480 per tonne in CY2021 and $1,700 per tonne in CY2020. (image) Source: LME. (image) Source: Alcoa; September presentation Recently, Alcoa Corp said that it is getting squeezed by higher energy costs and lower aluminium prices, which would lead to lower earnings for the September 2022 quarter.

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