The shares of aluminium-makers like Hindalco Industries, NALCO, recently-listed Vedanta Aluminium and others sharply dropped up to 6% as aluminium prices crashed following the Iran-US peace deal framework that improved prospects for deliveries from the Gulf producers.
The benchmark three-month aluminium contract on the London Metal Exchange (LME) dropped more than 4% to $3,379.50 per metric ton. Earlier during the session, the contracts plunged 5% to $3,357 a metric ton, its lowest level since March 27.
