Future looks bright for Hindalco, and Ukraine war may have a part to play

Higher aluminium prices, tighter supplies and lower debt are positive triggers

Traders will note that Hindalco and other industrial metals producers have bucked the downtrend in the global markets as the Ukraine crisis escalated into war. While the Nifty is down 1.8 per cent in the last month, Hindalco is up 17 per cent. There are similar counter-cyclical returns from other metals companies.

There are several variables to consider in assessing this situation. Russia is a major metals exporter, accounting for 10 per cent of global aluminium exports, 13 per cent of steel exports. It also holds significant market share in copper, zinc, etc. as well as palladium. Ukraine is also