 "Hindalco")
Non-ferrous metals major Hindalco Industries saw a spike in stock price as news came through of its rival Alcoa Corporation shutting down production at its plant in Spain. Alcoa is said to be shutting down the second-largest aluminium facility in Europe for up to two years due to high energy prices. This is expected to cause supply squeeze, which should benefit Hindalco.
Aluminium hit historic highs in mid-October, followed by a sharp correction which lasted until December. In December, prices rebounded by around 6 per cent for a calendar-year gain of around 40 per cent in metal prices.
The metals market has
