Hindalco Industries reported its highest-ever quarterly net profit of INR 75.33 billion (USD 802 million) in the second quarter of FY2027, up 59 per cent from INR 47.41 billion (USD 505 million) a year earlier, supported by stronger earnings across its aluminium, copper and Novelis businesses. Consolidated revenue from operations rose 39 per cent year on year to INR 917 billion (USD 9.8 billion) in the quarter ended September 30, 2026. EBITDA increased 42 per cent to INR 137.6 billion (USD 1.5 billion), compared with INR 97 billion (USD 1 billion) in Q2 FY2026. The company’s aluminium upstream business rose 55 per cent to INR 70 billion (USD 745 million) in quarterly EBITDA. Earnings from non-LME-linked businesses rose 50 per cent to INR 68.6 billion (USD 731 million). Copper also...
The London Metal Exchange (LME) aluminium prices declined across cash, three-month and December 27 contracts on November 6 compared with the previous trading day, November 5. On November 6, the LME aluminium cash bid price stood at USD 3,115 per tonne, down 1.42 per cent from USD 3,160 per tonne on November 5. The cash offer price declined by 1.30 per cent to USD 3,117 per tonne from USD 3,158 per tonne. Similarly, the LME aluminium three-month bid price decreased by 1.55 per cent to USD 3,049 per tonne on November 6 from USD 3,097 per tonne on November 5. The three-month offer price fell by 1.53 per cent to USD 3,050 per tonne from USD 3,097.5 per tonne. The December 27 bid price dropped by 1.57 per cent to USD 2,950 per tonne on November 6 from USD 2,997 per tonne on November 5....
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Hindalco Industries Limited has cut its aluminium products price by more than 1%. With effect from Wednesday, 04 August 2021, aluminium billets and wire rods prices have come in at INR 231,100 per tonne and INR 235,100 per tonne, which indicates a decline of INR 2,500 per tonne from INR 233,600 per tonne and INR 237,600 per tonne on July 31. Aluminium ingots price stands at INR 224,000 per tonne on Wednesday, 04 August 2021, from INR 226,500 per tonne on July 31. This reflects a slip of INR 2,500 per tonne. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price stood at US$ 2595.5 per tonne on August 3 from US$ 2635 per tonne on August 2. Aluminium operations of the company, excluding those...
On 4 th August 2021, the subsidiary of Aditya Birla Group’s Hindalco Industries’, Novelis Inc., the world leader in aluminium rolling and recycling, reported net income attributable to its common shareholder of $240 million in the Q1 FY2022 compared to a net loss of $79 million in the prior-year period. However, net income from continuing operations increased to $303 million compared to a net loss of $61 million in the existing year, which had been negatively impacted by the COVID-19 pandemic and acquisition-related special items. Excluding special items in both years, Q1 FY 2022 net income from continuing operations of $260 million is up significantly compared to $22 million in the previous year, driven mainly by higher after-tax Adjusted EBITDA. Novelis posted a rise in net sales by 59%...
According to a recent report, FYI Resources (FYI) and Alcoa Australia have extended their exclusive agreement period for possible high purity alumina (HPA) joint venture. The companies started correspondence with each other over the potential partnership in May. Within three months’ time, due diligence has been completed and substantial progress has been made with negotiations on the key terms and structure of the possible joint venture. FYI sees this JV highly potential to be turned into a material global HPA business in the high-tech energy materials sector. FYI and Alcoa have mutually decided to extend the agreement for another month as they continue to assess broader development and future growth options for the project. Both the companies believe the short extension is essential to...
Vedanta Limited has decreased its aluminium ingot and aluminium product prices with effect from Wednesday, August 4, in line with the fall in the LME aluminium benchmark price on August 3. Vedanta is currently selling its aluminium wire rod at INR 232,000-239,500 per tonne, down by INR 2,750 per tonne or 1.14 per cent from INR 234,750- 242,250 per tonne on July 31. Vedanta is also selling its aluminium billets at INR 2,750 per tonne lower than the previous day. Thus, the price is currently at INR 232,500 per tonne versus INR 235,250 per tonne last week. The company’s aluminium ingot price has also seen a cut of INR 2,750 per tonne on August 4 from INR 227,250-240,250 per tonne on July 31 to INR 224,500-237,500 per tonne. Vedanta limited links its aluminium ingot and aluminium product...
On 3 rd August 2021, AlCircleBiz, the world’s premier online marketplace for the global Aluminium Industry was exhibited across all the top media networks in India. The success story of the online marketplace, AlCircleBiz has been covered by the following renowned media houses: The portal dedicated to the global aluminium industry is a first-of-its-kind in this sector, which is one of the fastest-growing due to its various applications across construction, automotive, aerospace, communication, and other key industries. AlCircleBiz is observing rapid growth from both supply and demand perspectives, since its launch on 14 th November’20. The aluminium industry rooted online platform has already onboarded 250+ global sellers across all 6 continents and has 900+ live product listings on the...
Runaya announced that the company is in talks with Hindalco Industries and National Aluminium Company Limited (NALCO) for the establishment of an aluminium dross recycling plant. The company aims to expand its clientele in the domestic market as Vedanta Limited is the only client of Runaya. “Through the dross processing facility, the manufacturer will be able to recover about 15-20 per cent of additional aluminium which otherwise would have been part of waste material,” Annanya Agarwal, one of the founders of Runaya Group, told Business Standard. Runaya has recently set up its first aluminium dross recycling plant at Vedanta’s Jharsuguda smelter facility. The company will now establish another dross-processing unit at Vedanta’s BALCO facility, which is scheduled for commissioning by...
National Aluminium Company Limited (NALCO) has sharply increased its aluminium ingot price by INR 10,100 per tonne or 4.7 per cent with effect from Saturday, July 31. This soar in price has brought the company’s aluminium ingot price to INR 225,250-228,750 per tonne compared to INR 215,150- 218,650 per tonne on July 28. NALCO’s aluminium product prices have also seen a surge of INR 10,100 per tonne with effect from July 31. The company is now selling its aluminium wire rod at INR 227,750-232,100 per tonne in comparison with INR 217,650- 222,000 per tonne on the previous day. The present selling price of NALCO’s aluminium billets is INR 228,700- 231,350 per tonne versus INR 218,600- 221,250 per tonne on July 28. NALCO, like any other Indian aluminium producer, links its aluminium ingot and...
In June 2021, the World Bank stated that the GDP of Romania is expected to grow by 6% this year, improving its January forecast by 2.5% points. By 2022, the World Bank expects the Romanian economy to expand by 4.5%, higher than the previously projected 4.1% rise in the gross domestic product (GDP) for next year, it said in its June 2021 Global Economic Prospects report. However, Romania's government is targeting 5% economic growth in 2021. The south-eastern European nation, Romania imported 103,391 tonnes of aluminium bar rods and profiles during 2018-20 and the expenditure occurred for the import was $360.80 million. In 2018, Romania’s import of aluminium bar rods and profiles was recorded at 22,652 tonnes and the expenditure accounted for $91.54 million, whereas, in 2019, the import...
Kaiser Aluminum has announced that it will relocate its corporate headquarters from Foothill Ranch, California, to Franklin, Tennessee. The relocation will involve approximately $3 million investment and create 80 jobs. “Companies around the world see the benefits of doing business in Tennessee, and we are proud to welcome Kaiser Aluminum to the growing list of companies relocating from California to Tennessee,” Gov. Bill Lee said. “Kaiser will be an excellent addition to the economic landscape in Williamson County, and I thank the company for this new investment and job creation in Tennessee.” Kaiser Aluminum manufactures semi-fabricated specialty aluminium products for aerospace and high-strength packaging, general engineering, custom automotive and other industrial applications. The...
Three-month LME aluminium edged down 0.94 per cent to close at US$ 2,588.50 per tonne on Tuesday, with open interest losing 12,000 lots to 670,000 lots. LME aluminium cash (bid) price and LME official settlement price decreased by US$ 39.50 per tonne to stand at US$ 2,595.50 per tonne on Tuesday, August 3, following the past four consecutive days of rise. 3-months bid price and 3-months offer price declined from US$ 2,628.50 per tonne to US$ 2,599.50 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2,566 per tonne, down by US$ 20 per tonne from the previous day. LME aluminium opening stock continued to decrease from 1378575 tonnes to 1371150 tonnes. Live Warrants stood at 831825 tonnes, while Cancelled Warrants came in at 539325 tonnes. LME aluminium 3-months Asian...
The alumina price in China has marked a growth of RMB 13 per tonne. The price has inched up to RMB 2584 per tonne on Wednesday, 04 August 2021, from 2571 per tonne, as updated by Shanghai Metals Market. The prices of alumina in Henan, Shanxi, Guizhou and Guangxi China markets have risen to stand at RMB 2610 per tonne, RMB 2600 per tonne, RMB 2460 per tonne and RMB 2475 per tonne on Wednesday, 04 August 2021, an increase of RMB 20 per tonne, RMB 10 per tonne, RMB 5 per tonne and RMB 10 per tonne. Alumina price in Shandong has remained unchanged at RMB 2580 per tonne. SMM aluminium ingot price has dropped for the three days in a row. The price has declined by RMB 60 per tonne to RMB 19730 per tonne on Wednesday, 04 August 2021 2021 from its earlier price of RMB 19790 per tonne. The price is...
Aluminium Stewardship Initiative has welcomed Sanyuan Aluminium Co., Ltd. as a new Production & Transformation member, bringing the total number of ASI Members to 183. Established in 2007 in Zhuhai, Sanyuan Aluminium Co., Ltd. has two plants in Shandong province: Shandong Longkou Sanyuan Aluminium Co., Ltd. and Zouping New Sanyuan Aluminium Co., Ltd. The company mainly produces and supplies aluminium tab stock and end stock for making easy open ends of beverage and food metal cans. In all, Sanyuan Aluminium has four coil coating lines, two slitting lines, four coating lines, three printing lines and two cutting lines, with an annual production capacity of around 100,000 tonnes. The primary overseas customers include Crown Group and Ball Group, while domestic customers are ORG Group,...
The fourth-largest iron ore producer globally with its headquarter in Australia, Fortescue Metals has inked a partnership agreement with a tribal group in New Zealand to evaluate the possibilities of developing a hydrogen project fuelled by renewable energy with the first production as early as 2025. The energy arm of the iron ore exporter, Fortescue Future Industries (FFI) signed the deal with the Murihiku hapu of Ngai Tahu, with the project in the South Island's Southland province subject to a primary assessment process and an investment decision by Fortescue and the New Zealand authorities. The Southernmost region of New Zealand, Southland has surfaced as a potential hydrogen production hub in the country with domestic utilities Meridian Energy and Contact Energy mutually studying the...
Pakistan Aluminium Beverage Cans (PABC) reported that its profit climbed to Rs387 million during the quarter ended June 30, 2021, from Rs16 million during June quarter 2020. The growth was due to hike in sales and drop in finance cost. PABC’s sale came in at Rs1.9 billion in the three months under review as compared to Rs1.1 billion in the April-June period of last year. “Sales of the can producing company nearly doubled as they inched closer to Rs2 billion,” said Topline Securities analyst Sunny Kumar while talking to The Express Tribune. “Similarly, margins of the company rose from 22% to 40%.” “Another reason behind the surge in sales was that eateries were closed at the same time last year, hence the jump in sales was also witnessed due to the low base effect,” he said. “Export of...
According to the US Census Bureau data, the United States imported 6,220 tonnes of aluminium plates, sheets and bars from Oman in April 2021. That was a decrease of 4,220 tonnes or 40.42 per cent month-on-month, following a hike in March from 5,780 tonnes in February to 10,400 tonnes. On a year-on-year calculation, the United States aluminium plates, sheets and bars imports from Oman in April 2021, however, stood almost flat compared to 6,500 tonnes. In the first four months of 2021, the United Sates aluminium flat rolled product imports from Oman totalled 26,600 tonnes, up 5,800 tonnes or 27.88 per cent from 20,800 tonnes during the same period last year. The United States total imports of aluminium plates, sheets and bars amounted to 109,000 tonnes in April 2021, down by 9.92 per cent...
The latest Regional Economic Prospects report published by the European Bank for Reconstruction and Development (EBRD) on 29 th June 2021 stated that Ukraine’s economy is set to return to growth in 2021. The Bank forecasts the country’s gross domestic product (GDP) to increase 3.5% on the year in both 2021 and 2022. The major risks to its forecasts are the country’s slow movement on reform and vaccination. A decline in foreign demand, combined with the impact of repeated lockdowns on domestic demand, caused GDP to decline by 4% in 2020. The eastern European nation, Ukraine imported 2347 tonnes of aluminium tubes and pipes during 2018-20 and the expenditure occurred for the import was $10.14 million. Ukraine’s import of aluminium tubes and pipes in 2018 was recorded at 458 tonnes and the...
Fitch Solutions has forecast in its recent industry report that new projects coming online in Guinea, Indonesia, and Australia and ramp-up in Indian and Indonesian output will drive the global bauxite production growth this year after the COVID-19 pandemic in 2020. The American credit rating agency has estimated that new projects in pipeline will underpin the bauxite production growth in Australia, which holds 12 of the 32 new bauxite projects in Fitch’s Key Mines Projects Database, more than any other country. Rio Tinto’s production capacity expansion at the Amrun project will boost the country’s bauxite output over the coming years. The Amrun project achieved its first production in December 2018 and increased operations to the full production rate of 22.8 million tonnes per annum in...
MMP Industries, the manufacturers of aluminium powders, pastes, aluminium conductors and aluminium foils has received a large scale order from the Hyderabad based pharmaceutical company Hetero Healthcare Limited to supply aluminium foil products. The Nagpur, Maharashtra headquartered company continuously prospers to deliver a quality product, fortifying to build customer satisfaction and association for a longer period. However, MMP Industries has notified the bourse regarding work received by the company. MMP revealed that it has received an order worth 15MT from Hetero Healthcare Limited towards the supply of aluminium foil products. Hetero caters to a different product of various therapeutic groups and aims to improve the people's quality of life with the product line and a continuous...
