Nalco shares drop 5% as major Brazilian alumina plant resumes output

Shares of $NATIONALUM m Company (Nalco) fell nearly 5% on August 14 after Norsk Hydro’s Alunorte refinery in Brazil, the world’s largest alumina facility outside China, began ramping up production. The plant resumed higher output following approval from Brazil’s ANP regulator allowing Alunorte to import gas independently. It also secured a temporary gas supply deal with CELBA for terminal access. The earlier production cut had led to an estimated loss of 100,000–120,000 tonnes of alumina. With gas supply improving, Alunorte is steadily increasing alumina output. At mid-morning trade, Nalco shares were down 5% at ₹381.15, while Hindalco and Vedanta Aluminium declined 2% and 1.2% respectively. The move comes amid tight global aluminium markets, already strained by supply disruptions and low inventories.