 "Nalco rides on London Metal Exchange gains, sees room for more price hikes")
Kumar Mangalam Birla, chairman of Hindalco Industries, the country's largest aluminium producer, on Friday raised concerns over the ongoing trade war between the US and China, which would mean increased aluminium imports further hurting the domestic aluminium market.
"Nearly 50 per cent of the total domestic aluminium demand is being met via aluminium scrap and this is a big concern for Hindalco's domestic business," Birla told shareholders on Friday at the company's 59th annual general meeting held in Mumbai.
He, however, ruled out any impact of the same on its US-based subsidiary Novelis Inc, one of the leading companies
