Hindalco Industries expects raw material costs to rise by another 5% in the coming quarters as geopolitical tensions continue to tighten supplies and push up fuel prices, managing director Satish Pai said on Monday.
“The two places where our prices have gone up are Furnace Oil and CP Coke (Calcined Petroleum),” Pai said during a post-earnings media call, adding that costs would likely ease only after shipping through the Strait of Hormuz normalises and commodity fuel prices soften.
