Net sales for the quarter were $2.5bn, an increase of 29% compared to the $2bn from the quarter the year before. It cited higher aluminium prices and strong demand for the increase.

Ebita for the quarter was a record $263M – a 112% increase from its Ebita of $124M a year ago – and is its highest Ebita in its history.

Shipments of rolled products for the quarter was 746kt, a 15% increase from the 650kt of the first quarter of the previous year, driven driven by stronger end-market conditions across all four regions.

This is the second consecutive quarter since the economic downturn that shipments grew in all regions year-on-year.

Novelis president Phil Martens said he expected continued strength across all regions and that the company was running at full capacity in al regions.

He said: “The results in the first quarter reflect a rapid increase in demand throughout the quarter. Going forward, in addition to our strategic initiatives and expansion plans in South America, we will focus on debottlenecking our facilities globally."