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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2Q profit outperforms expectations on higher aluminum production
The standalone performance of Hindalco Industries, controlled by Indian billionaire Kumar of the metal, for the September quarter was impacted by a fall in the price of aluminium, a business which accounted for over 40% of revenues and nearly half of profits last fiscal. Profit rose to INR 1.03...
Aluminum climbs as Alcoa shrinks capacity on China export deluge
Aluminum notched higher after Alcoa Inc., the largest U.S. producer, announced reductions in smelting and refining capacity, in a latest response to Chinese export deluge that have created a global surplus and driven prices to the lowest level in more than six years. The metal used to make...
Govt of India may double aluminium import duty to 10%
The government of India is considering a move to double 5 per cent import duty on aluminium in a bid to salvage Rs 1.2 lakh crore of bank-financed capex investments by domestic players like Vedanta and Hindalco, and protect the 7.5 lakh jobs jeopardized by cheap imports that have captured well over...
Sharp fall in revenues awaits Indian aluminium companies in Sept quarter
The partial write-back of the provision made for the District Mineral Fund and increase in volumes are expected to save the day for Indian non-ferrous metal companies in the second quarter of this fiscal. However, both ferrous and non-ferrous companies are expected to report a sharp fall in revenue...
CARE cuts rating for Hindalco debentures
Credit Analysis and Research Ltd. (CARE), one of the world's premiere credit rating agencies, has revised its grade for Hindalco Industries' non-convertible debentures from 'AA+' to 'AA' on continued moderation in profitability and debt protection parameters. The debt amount involved is INR 6,000...
AAI pitches for a safeguard duty in meeting with India's Revenue Secretary
Facing the twin onslaught of galloping imports and meltdown in global prices, the domestic aluminium industry on Wednesday made a strong pitch for a safeguard duty breather in its meeting with revenue secretary even as its demand for doubling import duty to 10% remains unanswered. Sources said...
Indian aluminium industry officials to meet Revenue Secretary on safeguard duty
Indian aluminium industry officials are set to meet Revenue Secretary Hasmukh Adhia this week and pitch for a safeguard duty on the lines of one on steel products in a bid to check cheap imports from China and the Middle-East. Following the imposition of 20 per cent provisional safeguard duty on...
Vedanta looking to clinch domestic deals to cut alumina imports
After degrading capacity of its one million tonne alumina refinery at Lanjigarh by 35%, Vedanta is looking at options to source alumina from the domestic market to cut its dependence on high cost alumina imports. To feed its smelting unit at Jharsuguda, Vedanta is in talks with Aditya Birla Group...
Hindalco looks at new ways to cut costs
Hindalco Industries, the country’s largest aluminium maker, has cut production by up to 10 per cent at its Hirakud smelter in Odisha, on declining global prices and high energy costs. The cut by the Aditya Birla Group company has come at a time when smelter capacity use worldwide is down by a third...
Hindalco Industries trades higher on the bourses
Hindalco Industries is currently trading at INR 73.35, up by 0.20 points or 0.27% from its previous closing of INR 73.15 on the BSE. The scrip opened at INR 72.50 and has touched a high and low of INR 73.65 and Rs. 71.70 respectively. So far 365860 shares were traded on the counter. The BSE group...
Challenging market to affect Hindalco's performance: KM Birla
The challenging conditions in the commodities market, particularly the aluminium sector, will impact Hindalco's performance in the short term, said Hindalco Chairman Kumar Mangalam Birla. Birla, also the Chairman of the Aditya Birla Group, said improved aluminium fundamentals and large-scale...
Indian aluminium makers need to be cost competitive, say analysts
Hurt by spate of cheaper imports and plummeting LME (London Metal Exchange) prices, Indian aluminium makers need to focus on cost competitiveness in the long run to compete against their global counterparts, observe analysts. Aluminium producers like National Aluminium Company (Nalco), Hindalco...
Indian aluminium industry asks government to hike import duty
India's aluminium industry on September 12 called on the government to raise duties on import of the metal to stem the flow of cheap imports from China. An Aluminium Association of India delegation, led by Vedanta Group chief executive Tom Albanese, Hindalco deputy managing director D Satish Pai...
Hindalco said to refinance INR 14,700 crore of loans
Hindalco Industries Ltd, the Indian aluminium producer backed by billionaire Kumar Mangalam Birla, refinanced about INR14,700 crore ($2.2 billion) of debt. Shares extended gains. The Mumbai-based company got the average maturity of its local-currency project loans extended by 10 years, two of the...
Centrum Broking sees aluminium prices rising to 18 per cent
Centrum Broking said it expects aluminium prices to recover sharply to $2000 per tonne by first half of 2016 from $1700 per tonne price currently, citing expected supply cuts due to large unviable capacity at present prices and steady demand. The brokerage said 30-40 per cent of aluminium capacity...
Aluminium prices to rise next year on China boost, observes Hindalco
With China, the world’s largest consumer of major commodities including aluminium, unveiling stimulus, prices of aluminium are slated to rise next year, says Hindalco Industries Ltd, India’s second biggest aluminium producing company. Satish Pai, Hindalco’s deputy managing director said in an...
SINR to host Fourth IBAAS symposium in Suzhou, China from November 25-27
International Bauxite, Alumina & Aluminium Society (IBAAS), China Aluminium International Engineering Corporation Limited (Chalieco) and Suzhou Research Institute for Nonferrous Metals (SINR) have jointly announced that the Fourth IBAAS symposium (IBAAS-CHALIECO-SINR 2015) will be held in Suzhou...
Aluminium India 2015 takes off in Mumbai
Aluminium India 2015, the largest and the most important trade fair for the aluminium industry and its application fields in India, started today on September 7 at Bombay Exhibition Centre in Mumbai. The international exhibition and conference, organized by Reed SI Exhibitions Pvt Ltd, will be held...
