Strong prospects for Hindalco

Hindalco produced four per cent more aluminium and two per cent more alumina on a y-o-y basis

After a robust show by its US subsidiary Novelis, Hindalco's standalone performance too was impressive. The June quarter had posed some challenges in terms of correction in base metal prices on a sequential basis and also goods and services tax-led destocking. The company beat consensus estimates on revenues and operating profits levels despite these negatives.
 
Average copper prices at about $5,662 a tonne on the London Metal Exchange (LME) was 3 per cent down sequentially. Aluminium prices per tonne remained volatile in the range $1,960-1,855 during the quarter and have shot up to $2,040 levels in August. Thus, while