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.