The “Corona” crisis: Hindalco Industries temporarily curtails operations
The world's largest aluminium rolling company and one of biggest producers of primary aluminium in Asia, Hindalco, has temporarily closed down or curtailed operations of some of the Aluminium production facilities, following the directives of the state governments due to COVID-19.
The minimized operations are being administered by a lesser number of staffs as a part of the ongoing effort to practice social distancing.
The company has adopted several measures to safeguard the health and safety of the workforce.
Hindalco’s subsidiary Novelis in the US has also partially closed down some of its plants as the outcome of temporary shutdown measures of US automakers in response to the “Corona” crisis.
Hindalco said: “Novelis has temporarily ramped down aluminium supply for the automotive market during this period, but will continue to produce aluminium for the beverage can and speciality markets.”
LME aluminium price declined sharply to $1507.5/t; SHFE rose for the fourth day in a row to $1632/t
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