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Vedanta to Increase Aluminium Exports-The 21st China (Guangzhou)Int’l Fastener & Equipment Exhibition
8/19/2019 -fastener expo |
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Face Aluminium reported that India’s top primary aluminium producer plans to ramp up its shipments of the metal to the global markets. The company will seek to export over half of its aluminium products in the current fiscal year despite rising aluminium imports in India. While imports account for over half of India’s consumption of the metal, Vedanta is seeking to increase its sales to overseas buyers building on the current annual exports of at least 980 thousand metric tonnes of raw aluminium.
Vedanta produces 1.96 million metric tonnes of aluminium per year and showed year-on-year growth of 17% at a time when the domestic market for its products continues to shrink and India is experiencing a surge of aluminium imports.
Only around 30% of the company’s sales were to domestic buyers according to Vedanta’s annual report for 2018-2019. Currently 58% of India’s aluminium need is met with imports mostly from southeast Asian countries that signed a free trade agreement with India.
It said that “Vedanta boosted its sales to Japan and South-East Asia in 2018. International sales to our established customer base in other key Asian, European and North and South American markets also grew, increasing by 30% to 1.3 million tonnes this year.”
緊固件展-2020第二十一屆廣州國際緊固件及設(shè)備展覽會(huì)-巨浪展覽
-The 21st China (Guangzhou)Int’l Fastener & Equipment Exhibition
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