Aluminum troubles

The continuous drop in global aluminum prices, which was 40 percent from $ 2,474 per tonne in November 2014 to $ 1,479 per tonne in January 2016, affected the profitability of the companies. Huge overcapacity products in China's aluminum sector are spilling over into the market, causing many companies around the world to report a decline in their 2015 operating profit.

Meanwhile, bauxite imports to China rose significantly last year compared to the previous year. In China, processing takes place and added value is created and then exported to other countries, including India. Therefore, the Indian government raised the export duty on bauxite from 20 percent to 50 percent to discourage China from buying its cheap raw materials and then selling back the value-added material that competes directly with the products produced by Indian companies. In other countries, commodity players are also closely monitoring all processes in the aluminum industry and forcing the government to take protective measures.

Solar panel makers, the electronics industry, and auto makers are all demanding protection from cheap imports from China. However, in many developing countries, their positions are weaker than those of steel and aluminum industries, because their domestic production is still below demand.