Boosted by the United States and the European market demand, Kumar Mangalam Birla leading Indian aluminum industry co., LTD Hindalco IndustriesLtd. (Hindalco) as of March 31 aluminum products export target of $1 billion.
Two people on condition of anonymity, said the previous year to the March 31 deadline of three times as much as 12 months overseas shipments may increase to 400000 tons. By the middle of last month Hindalco headquarters is located in mumbai, India, the company has not yet finished half of their target.
The United States and Europe stringent emissions standards made car manufacturers are having to choose lighter than steel alloy. The extra demand will help restore profit growth, Hindalco has already had five consecutive months of decline. At the same time find the target market for new production release.
Researchers Rakesh Arora said that if India domestic demand not rebound, Hindalco would focus on exports. Current spot prices are very high, except China according to the current price almost every smelter is making money.