Managing Director Satish Pai's strategic foresight shines through amid the current market volatility. He remains optimistic about the future, anticipating that aluminium prices will stabilise around $2,400 per tonne, as reported by CNBC-TV18.
As of May 24, aluminium was priced at $2,598 per tonne on the London Metal Exchange, reflecting the recent fluctuations. This demonstrates his ability to navigate market dynamics and stabilise the company.
Hindalco's strong performance this quarter underscores its resilience and strategic positioning in the metals industry. It maintains robust profitability even amidst challenging market conditions.
The CEO told CNBC-TV18, "In the last couple of weeks, aluminium prices have spiked up, but they've been fairly volatile/ There have been $100 swings each way, currently running at $2550 per tonne. We are working with the fact that numbers are going to be a little bit more stable around $2400 per tonne rather than the current $2550 per tonne or $2600 per tonne."
He added, "Hindalco has enough coal availability, and that will aid in reducing the cost of production in the first quarter of the 2024-25 fiscal compared to the last quarter of the 2023-24 financial year. The EBITDA per tonne in Q1 will be certainly higher than the Q4, $967 per tonne."
