China recovery bigger worry than EU carbon tax, Hindalco MD says

The uncertainty over China’s economic recovery is proving to be a headwind for metal producers in the short-term even as the longer range demand outlook remains robust due to electrification and the shift to more sustainable metals, according to Hindalco Industries.

Aluminum prices have been pressured by worries that if the Chinese economy doesn’t pick up then any excess may be exported to the rest of the world at lower prices, Satish Pai, managing director at the Aditya Birla Group company, said in an interview with Bloomberg Television.