Hindalco made a 3% move yesterday. It's a stock which has been not a big performer like rest of the metal space over the last few months but it is trying to come out right now. A number of activities have been happening in the copper space globally and in the aluminium space.
Debu Bhattacharya, MD of Hindalco explains how this industry is panning out globally, the commodity prices and how Hindalco is poised in the midst of all of this.
Debu Bhattacharya says that their profits will not be affected due to low contribution of the copper business. Commenting on the copper industry, he says, "The market in India for copper consumption is doing extremely well. It's a matter of fact that growth, so far, in the current financial year has been more than 10% and I would expect similar growth going forward."
He further mentions that copper concentrate supply has been tight due to low mining activity. He explains, " When the concentrate availability is tight and demand is good, that is when the concentrate suppliers, miners as well as traders create an issue by which the TC/RC (Treatment Charges/Refining Charges), which is in fact the only earning for custom smelters like us comes down very sharply."
He expects coppper and aluminium prices to stay buoyant for the next four years.He informs that copper demand is up 10% and will continue in the coming quarters. He also adds that aluminium demand has grown by 13%.
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