Hindalco Industries Limited, an Indian aluminum and copper manufacturer, is evaluating the expansion of aluminum production capacity as aluminum prices were driven to record highs due to global supply shortages and strong demand.
Satish Pai, Managing Director of Hindalco, believed that the LME aluminum will strengthen over the next five years. Although it is not sure if the aluminum price will maintain above US$3,000/ton, it will definitely stay at a good level because the supply is limited but demand is rising.
Hindalco will use renewable energy for potential expansion projects with a ratio of 85% in order to reduce the carbon footprint of production, and the company will continue to develop its downstream business, said Satish Pai.
Hindalco evaluating expansion of aluminum capacity
15 Feb 2022 13:55 reported by Joy Liu
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