Aluminium prices on LME have fallen sharply from March highs, which impacts Hindalco’s India biz earnings
The tightening of the interest rate cycle is expected because of inflation. “This has raised investor concerns around global demand. Currencies have turned unfavourable, with the dollar strengthening and yuan weakening. China, a significant consumer of metals, has gone into lockdown because of an increase in the number of covid cases. This has weighed more on demand than supply,” said Satyadeep Jain, analyst at Ambit Capital.
