Commodities Buzz: Indian Aluminium Gains By 17.5% In April 2018

Indian Aluminium gained by 17.5% at Rs 146 per kg to end the month of April 2018. On monthly basis, domestic Aluminium prices gained by 8.32%. The data estimates from International Aluminium Institute (IAI) showed that Aluminium production was up to 5.482 million tonnes in March 2018 compared to 5.36 million tonnes in March 2017. On a yearly basis, Aluminium production gained by 2.27%.

On a monthly basis gains were 10.5% from 4.926 million tonnes in February 2018. US President Donald Trumps administration has extended negotiations on steel and aluminium tariffs for 30 days with Canada, the EU and Mexico. It has also reached a deal in principle with Argentina, Brazil and Australia. In March, Mr Trump imposed worldwide tariffs of 25% on US imports of steel and 10% on aluminium. The EU said delaying the decision "prolongs market uncertainty", which was already having an effect on businesses. Canada and Mexico had previously been given exemptions until 1 May while talks took place over Nafta (the North America Free Trade Agreement), as had Argentina, Australia, Brazil and the EU.