The Economic Times

NALCO, Hindalco gain up to 8% as global aluminium prices hit 7-week high amid Mideast tensions

NALCO and Hindalco shares rallied sharply on Wednesday as global aluminium prices hit a seven-week high amid Middle East tensions and fresh supply concerns. A production cut at Brazils Alunorte refinery, multi-decade-low LME inventories and disrupted Middle East shipments have tightened the market, supporting aluminium prices and Indian producers.