Thursday, December 1, 2022
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US Ban Russian Aluminium: Preparations for ban on Russian aluminum, shares of India companies rise

US To Ban Russian Aluminum: There is a decline in the stock exchange on one side, but the shares of the companies of the Metals Sector are seeing a great deal of brightness. Especially the stocks of Hindalco, Vendata and Nalco are bullish. In fact, America is considering imposing sanctions on alumnus of Russia. After this report came out, there was a tremendous increase in the prices of aluminum on the London Metal Exchange, which can benefit aluminum makers in India. Due to this, the shares of these companies are rising.

Hindalco’s shares rose 3.5 per cent to Rs 414, Nalco’s shares rose 3.28 per cent to Rs 72.80 and Vendata gained 1.2 per cent to Rs 290.95 on the London Metal Exchange following a jump in metal aluminum prices.

On the London Metal Exchange, aluminum prices jumped 7.3 percent, which was the biggest intraday jump in a day, after news of America’s preparation to ban aluminum came to the fore. On Wednesday, aluminum gained 3.1 percent to close at $ 2305. US-based aluminum maker Alcoa’s stock jumped 8.6 percent.

After crude oil, America is also preparing to impose sanctions on aluminum of Russia. According to a Bloomberg report, the US is considering three things due to Russia’s attack on Ukraine and rising tensions. First, he should ban Russian aluminum, second, he should impose such a tariff on Russian aluminum that it is almost like a ban. Third or else sanctions should be imposed against the aluminum producing company of Russia.

If Russia’s alumnus is banned, then the prospects for Indian companies will increase, due to which there can be a great rise in the stock.

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