NEW DELHI: Indian aluminium manufacturers have exports to thank for offsetting a sharp decline in domestic offtake this fiscal, a Crisil Research report has said.
Though on domestic front, primary aluminium is estimated to have plunged 45-50 pet cent on-year in the first quarter following the nationwide and local lockdowns to contain the Covid-19 pandemic, its exports rose 50 per cent on-year in the first quarter and constituted over 75 per cent of total primary aluminium production as against 48 per cent in the same quarter of last fiscal.
Sales in the domestic market and the resultant economic contraction, labour shortage, and logistic disruptions affected key demand segments — power, construction and automobiles — which account for over three-fourths of the demand pie. (IANS)
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