Hindalco sees auto aluminum supplies near pre-COVID levels

China 2605 Coronavirus 430 European Union 660 Japan 518 Materials - Metals/Mining 635 Metals - Aluminum 196 Quote Watch 263 South Korea 511 U.S. 4635

Hindalco reported calendar Q2 revenues which dropped by 15.6% year over year due to reduced global demand for aluminum and copper resulting from the COVID-19 pandemic. Life may be getting back to normal for the firm though with MD, Satish Pai, noting “all plants are operational, and many are now running at their full capacity”. On the demand side Pai has also stated that “all the automotive customers in North America and China are now pulling at nearly pre-COVID levels”. U.S. seaborne imports linked to Hindalco, its Novelis subsidiary and newly acquired Aleris, dropped by 55.1% year over...

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