Aluminum VAP sales were up 5% YoY at 78kt, giving it 24% share in Aluminum CoP was lower by USD27/t QoQ led by reduced energy costs. Copper EBITDA declined 3% QoQ (-37% YoY) to INR2.5b due to a 4% QoQ decline in EBITDA/t to USD426 on lower realization (LME down 5% QoQ). Copper EBITDA fell 3% QoQ (-37% YoY) to INR2.5b due to a 4% QoQ decline in EBITDA/t to USD426 on lower realization (LME down 5% QoQ). Domestic demand for aluminum declined 6% YoY in 2QFY20 (to 967kt) and was flat in 1HFY20. Imports (including scrap) also declined 8% YoY in 2QFY20 but their share in domestic consumption has increased by ~100bp to 42% in 1HFY20. With favorable market conditions in the US, Novelis shipped products from other regions (Europe, Asia and South America) to NA as With capacity utilization at >90%, the company seeks to optimize its portfolio.