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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Vedanta, Hindalco to continue with cost rationalization
India’s top two aluminium manufacturers - Vedanta Ltd and Hindalco Industries Ltd - are planning further cost cuts in the face of rising cheap imports from China and drop in price realizations - a situation that the steel sector too has been facing. More than half of the domestic demand for...
Indian aluminium industry smarts from inverted duty structure
The inverted duty structure in the aluminium sector has compounded the woes of the domestic industry, which is reeling under the impact of increased import of the metal from China and West Asia. As a result of this structure, manufacturers face a price disadvantage in the domestic market vis-à-vis...
Indian aluminium product manufacturers post mixed results for quarter ended Dec '15
Hind Aluminium posted a net profit while ESS SEE Aluminium and Manaksia Aluminium reported a loss for the quarter ended December 2015. Hind Aluminium Industries has reported a standalone total income from operations of INR 145.67 crore and a net profit of INR 2.52 crore for the quarter ended...
I cannot stop all imports, says Nirmala Sitharaman; Indian aluminium producers get the message
Even as the clamour against increasing imports from countries like China has been growing louder, commerce and industry minister Nirmala Sitharaman said last week that the onus was on the industry to deal with rising imports of several essential items. “I cannot stop all imports... but India’s...
Indian govt actively considering aluminium industry's wish to raise import duty
Government of India finally seems to be waking up to the crisis situation which domestic aluminium industry is going through. Union Minister for Steel and Mines, Narendra Singh Tomar said, "Dumping by China is a big reason. They are selling for lower than their production cost. It may be their...
Hindalco Q3 profit plunges nearly 89% on sharp fall in metal prices
Aditya Birla Group firm Hindalco Industries on Tuesday reported 88.74 per cent plunge in standalone net profit to INR 40.46 crore for the quarter ended December 31, 2015, due to a sharp fall in metal prices. The company had reported a standalone net profit of INR 359 crore in the corresponding...
Indian govt should take measures to curb Chinese aluminium imports: MD, Hindalco Industies
Debnarayan Bhattacharya, managing director at Aditya Birla Group company Hindalco Industries, sounded genuinely concerned about Indian government's role in reducing the worries of the domestic aluminium industry players who are badly hit by Chinese imports and aluminium price freefall. In a recent...
Hindalco Industries likely to report loss for Q3 2015
Hindalco Industries Ltd, one of India's leading aluminium producers, will announce its financial results on February 9 for the third quarter ended December 31, 2015. A leading investment research firm forecasts, the company is likely to report a loss of INR 159 crore for Q3 FY16. The firm expects...
No relief in sight yet for Indian aluminium makers
Government of India has provided relief to the domestic steel manufacturers hit by cheap imports and the global slowdown in commodity price by imposing a minimum import price ranging from $341 to $752 a tonne on 173 steel products. But, the global slowdown has left the aluminium industry still...
Hindalco Industries Ltd hits 52-week low
The stock of Hindalco Industries Ltd hit a new 52-week low and has INR 63.37 target or 5.00 per cent below today’s INR 66.70 share price. The 9 months bearish chart indicates high risk for the INR 143.28 billion company. The 1-year low was reported on February 4. If the INR 63.37 price target is...
Hindalco said to face threat of Baphlimali mine closing
Hindalco Industries Ltd., India’s second- largest producer of aluminum, may have to halt mining at its biggest bauxite reserve after part of the land was recently deemed forest, requiring a new permit, people with knowledge of the matter said. The company needs to obtain approvals by 9 March and is...
India mines ministry proposes increase in aluminium duty
The ministry of mines in India has proposed a hike in import duty on aluminium to 7.5% from 5% now, and a correction of the inverted duty structure in the industry, in its pre-Budget communication to the finance ministry. If the proposals are implemented, domestic aluminium makers such as Hindalco,...
Aluminium counts on duty hike by Indian Finance Ministry
Ministry of Finance (India) is likely to relent to the demand of aluminium manufacturers to raise import duty to thwart cheap imports. The North Block is likely to increase the import duty on aluminium to 7.5-10 per cent from 5 per cent in the next budget. Officials said they had been concentrating...
Hike aluminium import duty to 7.5%: Indian Mines Ministry
The Mines Ministry of India has asked the Finance Ministry to hike import duty on aluminium to 7.5 per cent to protect domestic industry from cheaper metal imports from countries like China. The import duty on aluminium at present is 5 per cent. "The Mines Ministry has written to the Finance...
Centrum Broking expects aluminium prices to recover
Centrum Broking expects aluminium prices to recover next year as over supply in the world market tapers off with China and global aluminium majors cutting back on production in the last few months. The brokerage said the recovery in prices will be based on actual fundamentals rather than...
Indian Government mulling import duty rise for aluminium
The government is considering raising import duty on aluminium products by as much as five per cent, among other policy measures, to tackle unabated import of cheap products adversely impacting the sector. "Domestic industry is going through tough a time. Some firms have approached the Directorate...
Hind Aluminium standalone Sep '15 sales at INR 180.21 crore
Hind Aluminium Industries has reported a standalone total income from operations of INR 180.21 crore and a net profit of INR 2.19 crore for the quarter ended September '15. Other income for the quarter was INR 0.80 crore. For the quarter ended September 2014 the standalone total income from...
Indian aluminium set to lose global cost advantage
Aluminium producers in India, raising prices to compensate for the expensive coal they have to buy from the open market after losing captive coal blocks in a Supreme Court order last year, may be turning uncompetitive in the global market, said analysts. The situation is expected to worsen once...
