Alumina market is expected to see a deficit of around 7 lakh tonne to 1 million tonne globally this year, said TK Chand, chief executive director of Nalco.
Alumina prices have spiked by 10 percent to 15 percent to trade near $530 a ton over the past 2 weeks.
“Alumina prices have firmed up in the market. We expect alumina prices to remain firm,” said Chand.
“Aluminium prices have become quite volatile. From August 1 to August 15, it has moved between $2,000 to $2,118," he added.