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VERIFIEDET Finance·positive
Hindalco rides aluminium supply shock, US unit Novelis' rebound in first quarter
AI Summary
- ·Hindalco Industries experienced a strong quarter driven by rising aluminium prices and the recovery of its US subsidiary, Novelis.
- ·Global aluminium prices saw a significant increase due to supply shocks and a widening deficit.
- ·Novelis improved its operations, including the restart of its Oswego hot mill, and achieved substantial cost savings.