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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Bauxite tax might force Indian aluminum players to sell domestically
Local aluminum players claim to always have shortages of the mineral but the major bauxite players are keen to export it because of the lucrative international prices. Now, with a 20 percent tax, it will become more expensive to export bauxite, thus adding capacity to domestic aluminum production....
Hindalco Industries hits 52-week high
Hindalco Industries rose 2.42% to Rs 186.05 at 12:29 IST on BSE, with the stock extending gains triggered by a foreign brokerage upgrading the stock to buy from underperform. Meanwhile, the S&P BSE Sensex was almost unchanged at 25,550.95. On BSE, so far 6.93 lakh shares were traded in the counter...
Hindalco jumps on hike in bauxite export duty
Hindalco Industries surged 3.63% to INR 172.50 at 12:40 IST on BSE as the finance minister in the Union Budget 2014-15 presented on 10 July 2014, announced increase in export duty on bauxite from 10% to 20%. Meanwhile, the S&P BSE Sensex was down 63.72 points or 0.25% at 24,960.63. On BSE, so far...
Doubling bauxite export duty will improve domestic supplies: Finance Minister, India
The doubling of export duty on bauxite, a key input for aluminium making, to 20 per cent will help improve availability of the raw material to the domestic producers. "Export of any raw material from the country should be discouraged and thus, the doubling of export duty on bauxite is a welcome...
The 18th International Conference on Non-Ferrous Minerals and Metals’14 concludes in Nagpur
The 18th International Conference On Non-Ferrous Minerals and Metals’14, organized by Corporate Monitor and JNARDD and supported by Ministry of mines, Govt. of India & IBAAS in association with VNIT and AlCircle.com took place in Radisson Blu Hotel, Nagpur on 11th and 12th july’14. The two day...
India to increase bauxite export taxes to aid aluminum makers
India proposes to raise export duties on bauxite to help local aluminum producers, which are facing a shortage of the raw material because of mining curbs. Finance Minister Arun Jaitley proposed to double export taxes on bauxite to 20 percent in his budget speech to lawmakers in New Delhi today....
Hindalco gains after Alcoa's earnings beat
Shares of Hindalco Industries Ltd are trading sharply higher after U.S. rival Alcoa Inc reported better-than-expected earnings, several traders said. Alcoa also increased its 2014 growth estimate for the North America commercial transportation market. Shares of Hindalco, India's leading aluminium...
Hindalco to mop up $500 million in QIP
Kumar Mangalam Birla-led Hindalco plans to raise $500 million (around INR 3,000 crore) through the qualified institutional placement of shares to raise funds primarily to repay part of its debt, said three people in the know. The floor price of the QIP that may hit the market next week could be INR...
Hindalco surges; CLSA says stock could double in 4 years
Hindalco Industries Ltd surges after CLSA upgrades the stock to "buy" from "sell" and raises its target price to 215 rupees from 110 rupees. CLSA says Hindalco's subsidiary Novelis Corp "will be a big beneficiary of the accelerating shift of global automakers from steel to aluminium given its...
Hindalco Industries orders continuous homogenizing and sawing plant
Hindalco Industries, based in Madhya Pradesh/India, has placed an order with Hertwich Engineering for a continuous homogenizing and sawing plant for extrusion billet. With the continuous homogenizing plant, perfectly uniform metallurgical properties of all billets are achieved due to precise and...
Hind Aluminium standalone Mar '14 sales at INR 82.68 crore
Hind Aluminium Industries has reported a standalone sales turnover of INR 82.68 crore and a net profit of INR 0.46 crore for the quarter ended Mar '14. Other income for the quarter was INR 1.08 crore. For the quarter ended Mar 2013 the standalone sales turnover was INR 104.97 crore and net profit...
Hindalco profit falls 48.5% to Rs248.15 crore
The Aditya Birla Group’s flagship company Hindalco Industries Ltd reported a stand-alone net profit of Rs.248.15 crore for the fourth quarter of 2013-14, down 48.52% from a year ago, owing to rising costs even though sales of aluminium were at a record high, the company said on Thursday. “The...
Hindalco's US subsidiary will pay a dividend of $250 M to its parent company
Hindalco's US subsidiary Novelis will play a significant role in reducing the parent's massive debt going forward as it trims its capital expenditure and generates cash on the back of better sales volume. Novelis, the world's biggest maker of flat-rolled aluminum used to make beverage cans, decided...
Hindalco gains after Novelis declares Q4 results
Hindalco Industries rose 4.68% to Rs 147.70 at 10:40 IST on BSE after the company's US subsidiary Novelis reported its Q4 results on Friday, 16 May 2014. Meanwhile, the BSE Sensex was up 63.52 points, or 0.26%, to 24,185.26. On BSE, so far 4.95 lakh shares were traded in the counter, compared with...
Kumar Mangalam Birla said to target record aluminum production
Hindalco Industries Ltd, India’s second-largest aluminum producer, is targeting a record output of the lightweight metal this fiscal year to resurrect earnings estimated to have plunged to the lowest in nine years. Billionaire chairman Kumar Mangalam Birla plans to raise production by more than 50%...
Indian aluminum producers look to safeguard against Chinese imports
Faced with increase in cheaper imports of ingots some of India’s aluminum producers now demand a safeguard duty, but cheaper aluminum auto component imports continue to worry Indian domestic producers. The ugly specter of cheap imports has raised its head in India’s aluminum sector once again,...
Utkal Alumina expects one million tonne alumina output in FY15
Utkal Alumina International Limited (UAIL), a subsidiary of Aditya Birla Group owned Hindalco Industries, is looking at alumina production of one million tonne in 2014-15 from its refinery at Kashipur in south Odisha's Rayagada district. The refinery commenced operation six months back and it...
Hindalco Industries hits 52-week high as Alcoa earnings beat estimates
Hindalco Industries advanced 4.23% to INR 142.95 at 10:45 IST on BSE after Alcoa Inc reported quarterly earnings that beat analysts' expectations on Tuesday, 8 April 2014. Meanwhile, the S&P BSE Sensex was up 96.02 points or 0.43% at 22,439.47. The stock market was closed on Tuesday, 8 April 2014...
