Hindalco: Volatile aluminium prices, rising imports remain major concerns

After a strong performance by its US subsidiary Novelis, Hindalco’s domestic performance, too, was in line with expectations despite multiple challenges. Aluminium prices have remained volatile on the back of global trade war concerns, with domestic prices trending down amid rising imports.
 
The average per tonne aluminium price on the London Metal Exchange (LME) during the quarter, at $1,968, was down 4.5 per cent sequentially and 6.5 per cent year-on-year (YoY). Even domestic per tonne premiums softened to $74 from $84 in the previous quarter and $95 in the year-ago quarter.
 
The quarter also saw imports of aluminium,