Hindalco Industries’ first-quarter print on Friday showed that higher aluminium prices and a recovery at Novelis, its US-based downstream aluminium subsidiary, emerged as key tailwinds for the company’s performance in the period.
The company’s India aluminium business benefited from higher realisations as aluminium prices climbed during the quarter, while Novelis’ performance improved with the restart of its Oswego hot mill and ongoing cost-cutting measures.
