AL Circle Analysis: From bauxite to trade, how supply risks are reshaping aluminium competitiveness
The aluminium industry is entering a phase where supply security is being tested across the entire value chain. The latest developments show the pressure beginning with bauxite, moving through logistics and alumina, feeding into aluminium prices and producer earnings, and eventually reshaping...
Hindalco’s 8.5Mt Baphlimali mine secures India’s first ASI certification
Hindalco Industries’ Baphlimali bauxite mine in Odisha has become the first bauxite mining operation in India to secure certification under the Aluminium Stewardship Initiative’s (ASI) Performance Standard V3.1 (2023). The certification was awarded to Utkal Alumina International Limited (UAIL), a...
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AAI to organize national seminar on “Aluminium – The Strategic Metal”
Aluminium Association of India (AAI) is organizing a national seminar on 'Aluminium: The Strategic Metal' in Bhubaneswar on Thursday June 30, 2016. A number of companies and associations along with key professionals from across the country's aluminium industry value chain are expected to attend the...
Indian aluminium firms renew call for tariffs after action on imported steel
India’s aluminium manufacturers continue to lobby their government for protection against low-price imports this week. Representatives from domestic aluminium firms are asking government officials to establish a minimum import price to help stave off what the firms consider dumping from several...
Hindalco rallies 11% as aluminium volumes drive Q4 profit
Shares of Hindalco rallied 11 percent intraday Monday, riding high on its March quarter results. Boosted by strong aluminium business, the company's net profit zoomed 124 percent to Rs 356.3 crore in January-March quarter from Rs 159 crore in year-ago period. During the quarter, its total turnover...
After steel, aluminium may get safeguard duty
After the government helped the steel industry by imposing a minimum import price to keep imports at bay, aluminium manufacturers are lobbying with the commerce ministry for similar benefits. “The government is re-examining the provisions of imposing either a safeguard or an antidumping duty on...
Hindalco names Satish Pai as MD, Debu Bhattacharya to continue as non-executive director
Hindalco Industries named Satish Pai, currently deputy managing director, as the managing director. Current Managing Director D Bhattacharya will continue as non-executive director and has also been appointed vice-chairman, Hindalco said in its statement. The aluminium major reported a 123% jump in...
Hindalco Q4 net profit more than doubles to Rs 356 crore
Aluminium maker Hindalco today said its standalone net profit more than doubled to Rs 356 crore for the quarter ended March 2016 helped by growth in sales of value-added products as well as cost efficiencies. The flagship firm of the Aditya Birla Group had clocked a net profit of Rs 160 crore in...
Indian aluminium firms await respite
Indian steel companies have seen their fortunes swing back after implementation of the minimum import price but aluminium majors await similar triggers. The recommendation of the Directorate General of Safeguards for a provisional safeguard duty of five per cent ad valorem for 200 days had lifted...
Further correction in aluminium prices mean more downside for Hindalco
Shares of Hindalco, an aluminium producer, have corrected 6 per cent in the last two trading sessions after a sharp fall in the LME aluminium prices. LME aluminium prices have fallen 5 per cent in the last three trading sessions, after rallying strongly in the year till date. Various fundamental...
India defers provisional safeguard duty on unwrought aluminium imports
Under criticism over its protectionist measures for the domestic steel industry, India has deferred the 5 per cent provisional safeguard duty on imports of unwrought aluminium. Unwrought aluminium is extracted from primary metal or scrap and is imported by India from various countries such as the...
Govt of India may recommend provisional safeguard duty on aluminium
Just as provisional safeguard duty was imposed on the import of steel last year, the Government of India is likely to recommend the same for aluminium import as well, reports . Indian aluminium giants like Hindalco, NALCO, BALCO and Vedanta have complained about the incessant dumping from China and...
India govt initiates safeguard investigation against aluminium imports
The Directorate General of Safeguards (DGS) has initiated the investigation in alleged increased imports of unwrought aluminium for causing injury to the domestic aluminium industry. The period of investigation is 2011-12 onwards till 2015-16. This investigation came on the application filed by...
Hindalco in talks to refinance Novelis' $5.3-bln loans
Aditya Birla Group firm Hindalco has initiated talks with banks to refinance loans worth $5.3 billion taken by its subsidiary Novelis. According to bankers, the loans are being refinanced with longer-term loans and at lower costs to cut the finance costs of the company and increase its repayment...
Odisha grounds INR2.53 lakh cr investment; Hindalco commences production at Sambalpur smelter
As many as 46 industries who signed MoUs with the Odisha government have invested INR 2.53 lakh crore so far in the state, the assembly was told on Thursday. "Ninety-two have inked MoUs with the state government to set up their industries with an investment of INR 5.68 lakh crore. Of the 92...
Continuous Homogenising Plant successfully commissioned at Hindalco
For the production of extrusion billets at its newly built plant in Madhya Pradesh, Hindalco Industries decided in favour of heat treatment in a continuous homogenizing furnace. The continuous homogenising and sawing plant for billets (diameter range 178 to 229 mm) has a capacity of 64,000 tonnes...
Stuck deals to get ‘million-dollar’ push with tweaked mining law
India will see billions of dollars moving into deals stuck in the power, cement and steel sectors, as the Cabinet on Thursday approved the amendments to the Mines and Minerals (Development and Regulation) Act, 1957 (MMDR Act, 1957). This will pave the way for transfer of captive mining leases not...
Hindalco jumps 15.44% in three sessions
Hindalco Industries jumped 5.95% to INR 79.25 at 15:15 IST on BSE, with the stock extending recent gains after the finance minister in Union Budget 2016-17 hiked customs duty on primary aluminium and other aluminium products to check rising imports. Meanwhile, the BSE Sensex was up 335.16 points,...
Indian aluminium producers to raise product prices soon
With the government proposing to hike the customs duty on primary aluminium products, Indian aluminium majors like Aditya Birla Group company Hindalco Industries, state-owned National Aluminium Company (Nalco) and Anil Agarwal-led Vedanta are planning to raise product prices in coming months....
Budget 2016 impact: India aluminium stocks gain on 2.5% import duty hike
Shares of Vedanta Ltd. and National Aluminium Company gained on Monday after Finance Minister Arun Jaitley increased imports duty on aluminium to 7.5 per cent from 5 per cent effective April 1, in a bid to save the industry from imports that have captured more than half the domestic market....
