6% Degrowth In Aluminium Demand ¨C Mr Satish Pai MD Hindalco

Mr Satish Pai MD of Hindalco in an interview with Mubina Kapasi of ETNOW said that “Our international businesses have done very well but the Indian businesses of course have felt the impact of the slowdown that we have seen in demand in the country. As a result, in the second quarter we have seen that aluminium demand degrew 6% whereas in the first quarter it had grown by about 7%. That had quite an impact on our business. As a result, we have exported a lot of metal but it is fair to say that we are feeling the effects of the slowdown in demand in the country right now.”

He said “It is fair to say that the contraction may be a little bit more than what I would have expected. I would have at least thought we would see a 2-3% demand growth but if you look at construction and infrastructure and even the auto sector, everywhere, the demand has been quite weak.”

He added “We are not very exposed to the auto sector. Our extrusions are heavily dependent but we sell about 328,000 tonnes a quarter. Less than 5% of that is to the auto sector. For us, the electrical sector takes 40%; overall transportation sector, which is commercial vehicles etc. takes another 10-15%, packaging takes about 20%, In all those sectors, the demand has been slowing down.”

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