Hindalco is better-placed than most non-ferrous metals producers because it has access to high-quality bauxite from its own mines and has its own captive power capacity
The supply-demand equation in aluminium continues to look confused but it may be net-negative for producers. The global slowdown is clearly reducing demand for the metal across the automobile, aviation and beverages industries. However, supply is also being cut.
Weak downstream demand will have a negative impact on Hindalco’s US-based subsidiary, Novelis. North American can-maker, Ball Corp, which is Novelis’ largest customer, has cut its own volume growth estimates across North and South America, citing high inflation as a major cause of demand destruction.
While Ball has lowered its five-year growth estimates to the lower end of its earlier prediction,
First Published: Sep 26 2022 | 8:49 PM IST