Aluminium exports to Japan, Korea and Taiwan rise marginally after West Asia supply gaps: Hindalco

Hindalco Industries on Monday said its aluminium exports to Japan, South Korea and Taiwan, have marginally gone up after the company filled the supply gaps created by West Asia crisis.

Nearly 70 per cent of the company's aluminium is absorbed by the robust domestic market and exports are 25-30 per cent.

As per the company, outbound shipments have inched up as the company took the opportunity from the West Asia crisis, exporting aluminium at good prices.

''We don't export aluminium to the Middle East. Middle East was actually a net exporter of aluminium. 2.5 million tonnes of Middle East aluminium going off the market is why aluminium prices are high,'' Hindalco Industries Managing Director Satish Pai told reporters here.

He further said that 90 per cent of Hindalco's exports goes to Japan, Korea and Taiwan.

Pai further said the government is actively offering exploration blocks for critical minerals such as copper, nickel and lithium, and the company is pursuing opportunities.

''We won a copper block more than a year ago and are now at an advanced stage of exploration,'' Pai said. ''As more copper blocks are offered, we will actively bid for them to expand our exploration.''.

He further said that within the next two years, India, like in aluminium, is likely to reduce its dependence on imported copper.

Replying to a question, he said that that the company is actively ramping up its flat rolled products (FRP) aluminium manufacturing unit at the Aditya Aluminium complex in Sambalpur district and ''as Aditya FRP ramps up I hope the can shortage in India will be distant memory by the end of this year.''.

Aditya FRP is the brand new rolling facility commissioned in January.

When asked about the timeline for US listing of its US-based subsidiary Novelis Inc, the MD said: ''Our only focus in Novelis is the restart of Oswego (plant), the commissioning of Bay Minette and full ramp-up of Bay Minette which will take another 18 months so before that we have no other thoughts in mind.''.

Hindalco Industries is the metals flagship of the Aditya Birla Group. A USD 31 billion metals powerhouse, it is the world's largest aluminium company by revenue and a major global player in copper and specialty alumina.

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