NALCO
NALCO stock rallies nearly 8% amid aluminium supply fears from US-Iran conflict
Mumbai/IBNS: Shares of National Aluminium Company Limited (NALCO) climbed nearly 8 percent on Thursday, extending their rally over the past three trading sessions amid the escalating US–Iran conflict, media reports said.
The stock has surged around 12 percent in the last three sessions.
Global aluminium prices have also climbed to their highest level since 2022 after Aluminium Bahrain BSC invoked force majeure clauses in its supply agreements with customers.
The Bahrain-based producer has also halted deliveries of the metal to some customers, according to a report by CNBC-TV18.
The company is a steady supplier of aluminium to West Asia, but the ongoing conflict has disrupted supply chains as safety concerns intensify around the Strait of Hormuz, one of the world’s most critical oil and commodity transit chokepoints.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
