50 billion in revenue and 20 billion in profit is what Vedanta Group is looking forward to over the next two years, said the Founder & Chairman, Mr Anil Agarwal, during an interactive session organised by the Indian Chamber of Commerce (ICC) at Taj Bengal, Kolkata on October 28, 2026. While he sees India as a powerhouse of metals and minerals, his attention is caught by West Bengal, located in the Eastern part of India. Mr Agarwal believes the future of Bengal looks bright, as the state has a strategic geographical location with major mining states like Jharkhand and Odisha as its neighbours. By directing high hopes for Bengal and praising the double engine government, Agarwal expressed his willingness to invest in the state in sectors like mining, minerals and power. He also met the...
Hydro has begun construction of a new 5,900 metric ton indirect aluminum extrusion press line at its Cressona facility in Pennsylvania, backed by a $53.5 million investment aimed at modernizing production, expanding specialist extrusion capacity, and strengthening the company’s North American manufacturing operations. The groundbreaking took place on October 27, with operations expected to commence in the first quarter of 2028. The new press will replace equipment dating from the 1950s and introduce Industry 4.0 technology, advanced automation, improved energy efficiency, and enhanced safety performance. New press targets growing demand for specialist extrusions The investment comes as demand for indirect aluminum extrusions continues to grow across commercial transportation, automotive,...
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The Trade Remedies Authority (TRA), an executive non-departmental public body sponsored by the Department of International Trade, reported on Wednesday, February 22, that it began the reconsideration procedure of the recommendation of anti-dumping measures on aluminium extrusion imports from China. The process started after the authority received a request from a UK producer, who claimed the duties imposed did not accurately reflect the level of injurious dumping. During the original investigation, the TRA found the domestic aluminium industry was suffering and struggling to compete with the prices offered by imported extrusions. It, therefore, recommended anti-dumping duty on aluminium extruded products flooding into the UK from China. But later on, the authority excluded certain...
Vedanta Limited has lifted its aluminium products prices and aluminium ingot prices for the second day in a row, bringing its aluminium wire rod price to INR 239,500-247,000 per tonne. That was an increase of INR 3,500 per tonne from the previous day. On February 21, Vedanta’s aluminium wire rod price stood at INR 236,000-243,500 per tonne, up by INR 4,750 per tonne from INR 231,250-238,750 on February 17. Vedanta’s aluminium billet price has also seen an increase of INR 3,500 per tonne on February 22 to stand at INR 241,000 per tonne, following a hike of INR 4,750 per tonne from INR 232,750 per tonne to INR 237,500 per tonne. Aluminium ingot price has also been elevated by INR 3,500 per tonne on February 22 to INR 232,000-262,500 per tonne. On February 21, the price stood at INR...
Shanghai Metals Market survey found China’s average operating rate across leading aluminium processing enterprises rose 1.7 percentage points last week to 61.5 per cent. Aluminium plate, sheet, strip, foil and construction extrusion sectors recorded operational growth with the gradual arrival of the peak season. In contrast, primary and secondary aluminium alloy and industrial aluminium extrusion sectors recorded muted operating rates due to the sluggish automobile market. The average operating rate of large secondary aluminium alloy companies failed to recover the pre-CNY levels despite growing by 3.1 percentage points to 47.5 per cent. Slow demand recovery from various industrial sectors resulted in constrained operations. In addition, raw material shortages also plagued secondary...
AMAG Austria Metal AG, the biggest company in the Austrian Aluminium Industry sector, has achieved a record annual result for 2022, exceeding the previous year’s mark. The company’s 2022 revenue superseded the former year’s EUR 1,259.4 million by registering a growth of 37.1 per cent. In 2022, AMAG reportedly earned revenue of EUR 1,726.7 million despite restrained shipments at 442,000 tonnes compared to 442,300 tonnes in 2021. The company’s net income after taxes also increased by 69.1 per cent Y-o-Y from EUR 64.6 million to EUR 109.3 million in 2022, a record figure until now. The revenue and net income growth could be attributed to higher global aluminium benchmark prices, premium levels, and consistent price adjustments due to higher energy and raw material costs. Personnel and plant...
On Friday, February 17, Hindalco Industries Limited further slashed its aluminium ingot and aluminium products prices to match the global aluminium benchmark price. According to the price chart revealed by the company on February 17, Hindalco cut its aluminium wire rod price by INR 3,750 per tonne to sell the product at INR 234,100 per tonne versus INR 237,850 per tonne on February 14. Hindalco also reduced its aluminium billets price by INR 3,750 per tonne to INR 237,100 per tonne, which previously stood at INR 240,850 per tonne. Aluminium ingot price was no exception but slipped from INR 226,750 per tonne on February 14 to INR 223,000 per tonne on February 17. Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal...
Apart from the Q3FY23 results from companies like Bharat Forge Golkonda Aluminium, the industry also recorded two special award-winning moments. On February 3, 2023, Hyundai Motor Group presented Novelis with the "2022 Supplier of the Year" award at the company's annual "Partnership Day" event in South Korea. ElvalHalcor, the sole Greek manufacturer of flat-rolled aluminium products, secured second place at the "Business Awards HRIMA 2022," held on February 10, 2023. Under the market scenario, Bharat Forge, an Indian multinational company that produces automotive components and engages in forging, reported an EBITDA loss of INR 62 crore in the December quarter (Q3FY23) due to problems with new products associated with the expansion of aluminium forging capacity in Germany and the United...
Hind Aluminium Industries Limited, a manufacturer of aluminium & alloy conductors and aluminium wire rods, announced its third quarter results ended December 31, FY2023, reporting a year-on-year plunge of 83.22 per cent in net sales from INR 1.49 crore and a quarter-on-quarter slump of 68.75 per cent from INR 0.80 crore to INR 0.27 crore. The company’s net profit for the December quarter was INR 0.99 crore, down by 50.75 per cent from INR 2.01 crore a quarter ago but up by 52.30 per cent from INR 0.65 crore a year earlier. EBITDA stood at INR 1.84 crore in Q3 FY23, significantly up by 6233.33% from Rs. 0.03 crore during Q3 FY2. EPS also increased over the year by 52.43 per cent from INR 1.03 crore to INR 1.57 crore in the December quarter of FY23 but decreased by 50.78 per cent from INR...
National Aluminium Company Limited (NALCO) has again curtailed its aluminium products prices in less than a week from the previous cut. With effect from Thursday, February 16, NALCO’s aluminium wire rod price has been reduced by INR 5,300 per tonne or 2.24 per cent to INR 231,050 -235,400 per tonne. On last Saturday, February 11, the price had seen a cut of INR 4,300 per tonne to INR 231,850-235,350 per tonne. This indicates the fact that NALCO has accelerated the rate of price cut in line with the intensity of LME aluminium price fall. During February 10-15, the LME aluminium benchmark price fell by US$68 per tonne to close at U$2,367 per tonne. Like any other Indian aluminium giants, NALCO links its aluminium ingot and products prices to the three-month futures of aluminium on the...
On February 10, 2023, the only Greek producer of flat-rolled aluminium products , ElvalHalcor, received 2nd place in the "Best Company" category award during the Award Ceremony of the "Business Awards HRIMA 2022". As a result, it has reaffirmed its distinct position among companies that support the Greek economy and contribute to the growth of the Stock Exchange market. This distinction underlines ElvalHalcor's explosive growth, especially in light of the opportunities presented by the megatrends of urbanisation, the circular economy, and energy transition concerning the rising demand for cutting-edge, environmentally friendly products and services made of copper and aluminium. Spyros Kokkolis, ElvalHalcor's Chief Financial Officer, stated, while accepting the award on behalf of the...
Shanghai Metals Market survey found the average operating rate in the aluminium wire and cable sector dropped 5.9 percentage points month-on-month and 0.6 percentage point year-on-year to 34.4 per cent in January 2023. The average operating rate of large producers lost 9.2 percentage points M-o-M to 38.5 per cent, and that of mid-sized producers fell 4.3 percentage points to 29.3 per cent, while small producers remained stable. The operating rates decline of wire and cable producers in January could be attributed to the production halt for the Chines New Year Holiday. But some producers reported having continued operation in advance for deliveries in February, resulting in in-plant inventory growth with falling orders from the power grid sector. In January, the operating rates of wire and...
To ensure a sustainable and consistent supply of Rio Tinto's Responsible Aluminium products to Japanese downstream manufacturers, global miner Rio Tinto and Japanese trader and business conglomerate Marubeni Corporation have agreed to the first sale under the new strategic Collaboration Agreement. A significant Japanese motorcycle manufacturer committed to decreasing carbon emissions throughout its supply chains and production process purchased the first batch of Rio Tinto's RenewAl™ high-purity aluminium from the sustainably powered New Zealand Aluminium Smelters (NZAS). "We are excited to be a part of the first producer-trading house marketing partnership focused on delivering sustainability throughout the aluminium supply chain. Consumers want to know more about the products they buy...
The Indian multi-national company involved in the forging and automotive components manufacturing, Bharat Forge's overseas business posted an EBITDA loss of INR 62 crore in the December quarter (Q3FY23) on new product issues related to the capacity increase of aluminium forging capacity in Germany and the United States. The EBITDA loss of overseas subsidiaries in the September quarter (Q2FY23) was INR 34.1 crore. The management does anticipate that this new capacity will stabilise in FY24 and enjoy good margins at 75-80 per cent utilisation. Bharat Forge said, "Overseas businesses continue their journey to profitability with a focus on improving capacity utilisation, cost optimisation, price increases and cost reimbursement for customers." Due to rising expenses, the company's...
Taural India, located in Pune, Maharashtra founded by a young entrepreneur Bharat Gite in 2016 to create aluminium casting solutions that could replace imported products in the sectors like defence, energy, healthcare, railways, and aerospace. India has attained the list to become the world's second-largest aluminium producer. Still, imports account for 60 per cent of total domestic demand, which includes aluminium castings, other than extrusions, rolled aluminium, aluminium foils, and other downstream products. According to Bharat, however, fewer Indian aluminium casting companies use sand casting technology to produce aluminium alloys in which liquid metal is poured into chemical sand moulds. Currently, these products are imported from countries like China, Europe, etc. In 2014, Bharat...
Golden Aluminum Inc.'s recycling-based aluminium rolling mill in Fort Lupton, Colorado, USA, received the ASI Chain of Custody (CoC) Standard V1 (2017) Certification. The certification covers rolling, finishing, and coil coating activities, processes, and procedures. It also includes its block casting technique. In June 2022 , the facility received ASI Performance Standard Certification. To create rolled aluminium coils, the factory remelts both primary and recycled aluminium and changes the liquid metal using its unique casting process. Bureau Veritas Certification conducted an impartial, unbiased audit of the Golden Aluminum Inc. facility. "We warmly congratulate Golden Aluminum Inc. on achieving ASI CoC Certification for its Fort Lupton rolling mill. Responsible sourcing of material...
ALG Aluminium Inc. (ALG), a modern state-owned joint stock company invested in and controlled by Guangxi Investment Group Co., Ltd., has reportedly received ASI Performance Standard Certification for manufacturing aluminium alloy products at a facility in Nanning, China. The news came on Monday, February 13, after ASI officially announced it successfully acknowledged ALG’s casting, extrusion, hot-rolling and cold-rolling operations against Performance Standard. ALG’s Nanning facility has an annual capacity of 200,000 tonnes. The company’s aluminium plate, sheet, strip, coil and large-scale extrusion products are destined for use in the aviation and transportation industries. Fiona Solomon, Chief Executive Officer at ASI, said: “We congratulate ALG Aluminium Inc. for achieving Performance...
The partners of DADA Holdings, LLC, announce that their affiliate, Niche European Holdings, LLC, has acquired a controlling stake in Niche Fusina Rolled Products S.r.l., which operates an aluminium rolling mill and related facilities in Fusina, Italy, just outside of Venice. Invitalia, the Italian government agency responsible for promoting inward investment and enterprise development throughout the country, is Niche Fusina's other remaining shareholder. DADA first acquired a minority stake in Niche Fusina in March 2022, in a sale approved by the Court of Venice in an insolvency proceeding. Niche Fusina is DADA's second foray into the aluminium rolling business; their first was Wise Metals Group, which they transformed into the world's third largest producer of can sheets for the beverage...
The ferroalloy smelting plant of the vertically integrated manganese and silicone metal company OM Holdings Ltd (OMH) in Malaysia’s Samalaju Industrial Park, Bintulu, will incorporate higher value-added silicon metal. The OM Materials (Sarawak) Sdn Bhd, the group's flagship smelter complex, successfully modified and converted two ferrosilicon (FeSi) furnaces into metal silicon (MetSi) furnaces to produce silicon metal. According to OM Holdings, "The first MetSi furnace is undergoing hot commissioning and performance testing." However, the MetSi furnace has a production capacity of 35 tonnes to 40 tonnes per day. The modification and conversion process involved dismantling two idle FeSi furnaces, followed by civil works and equipment installation carried out by contractors from China in...
From January 2023, the exclusive partnership between Nordmann UK and Toyal Europe for aluminium effect pigments distribution in the UK and Irish markets came into effect. The Toyal Group, an international production and supply chain with its headquarters in Japan, established by Toyo Aluminium K.K., includes Toyal Europe. The Toyal Group, a renowned industry pioneer in creating advanced aluminium effect pigments and atomizing powders, is dedicated to developing new products to meet market demands and offer cutting-edge services to clients. The aluminium-pigmented coatings are sprayed on the components using a standard spray technique. Following application, the layer is polymerized between 180°C and 200°C. The main benefit of this method is the partial spray coating of particular...
