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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Hindalco to raise value-added product output
Hindalco Industries, India’s biggest aluminium producer, is planning to raise its high-margin value-added product (VAP) share in overall production to 57% from the current 47% in two years. VAP share was 43% in total production for the last fiscal against the annual average of 40%. “For increasing...
Hindalco seeks USD 890 million to clear debt
Hindalco Industries Ltd, India’s second-biggest aluminum producer, plans to raise about $890 million to refinance debt, said two people familiar with the matter. The company is looking to raise USD 356 million selling bonds and draw USD.534 million through loans to repay high-cost borrowings at...
Hindalco shares drop after net falls 25% in fourth quarter
Hindalco shares started lower on Wednesday despite the company reporting better margins on a sequential basis. The stock traded 0.8 per cent lower at INR 109.15 as of 09.22 a.m., underperforming the broader Sensex, which traded 0.17 per cent lower at 20,125. Hindalco's net profit dipped 24.68 per...
Hindalco slips after twin bulk deals
A bulk deal of 10 lakh shares was struck on Hindalco Industries counter at Rs 108.25 at 11:26 IST on BSE, on 23 May 2013. Another bulk deal of 4 lakh shares was struck on the counter at Rs 107.45 at 11:33 IST on BSE on 23 May 2013. The bulk deals constituted 0.07% equity of Hindalco Industries....
Seco/Warwick supplies seven soaking pit furnaces to Hindalco
Furnace specialist Seco/Warwick Allied recently installed seven soaking pit furnaces for Hindalco in Hirakud, Eastern India. The furnaces feature side-mounted fans (for improved maintenance access) and a combination of fan and heater arrangements to produce separate control zones along the vertical...
India's Aluminum Can Market Faces Five-Fold Growth By 2020 - Hindalco
India's appetite for aluminum drinks cans could increase five-fold over the next seven to eight years, playing an important role in increasing the country's stake in global aluminum demand, the chief marketing officer of Indian aluminum producer Hindalco Industrial Ltd. (500440.BY) said Thursday....
Utkal alumina refinery to commence trial production
The Utkal Alumina International Limited, a unit of Hindalco Industries, plans to start trial production at its 1.5 million tonnes per annum alumina refinery in Odisha by the end of May, an official said Monday. The green field project at Doragurha near the district headquarters town of Rayagada,...
Severely delayed alumina refinery starts trial production in India
An alumina refinery project, delayed by almost 20 years due to local and environmental protests, is finally ready to start trial production. The plant, at Doraguha, near Kasipur in Odisha's Rayagada district, is owned by Utkal Alumina International Ltd, a subsidiary of Hindalco Industries, which is...
UAIL's corporate social responsibility breaks new ground in Odisha
The green field bauxite mining and refinery project of Utkal Alumina International Limited, a wholly owned subsidiary of Hindalco Industries Limited and a part of the Aditya Birla Group, an Indian multinational conglomerate is ready for commissioning and will be operational by the end of this...
Sterlite Industries net profit up 10.6% in fourth quarter
Sterlite Industries is seen posting a net profit of $261 million for the January-March quarter, up 10.6 per cent from $236 million in the year ago period, according to brokers polled by NDTV. Sales for the period are seen coming in 1.5 per cent higher at $2019 million against $1988 million during...
Metal stocks see little potential for rebound
In 2013, markets on the whole have not been on fire, but a noticeable laggard has been the metal stocks. Among other things, they have been hit by the pronounced slowdown in manufacturing and the dwindling business confidence. Manufacturing growth, already, is on a downward swirl. Aluminium, for...
Weakening prospects of aluminium increases pressure on non-ferrous metal producers
Companies such as Sterlite Industries and Hindalco are expected to face pressure in coming months as the prospects for industrial commodities such as aluminium are weakening. Recent major events such as indication of lower bond by the US Fed, slowdown in China’s consumption and higher inventories...
Procedural delays in India make Birla Group look at expansion abroad
The Aditya Birla Group has chalked a plan to expand capacities of all its companies globally — including Novelis, Hindalco and UltraTech — which would raise the group’s turnover from $40 billion to $65 billion in two years. The look-abroad policy also includes the acquisition of a mid-sized...
Tribals oppose construction of railway track to Utkal Alumina Limited
Opposing construction of a railway track leading to Utkal Alumina International Limited (UAIL) at Rayagada's Doragurah under Kasipur block, around 600 tribals congregated at Bilamalo Chhak on Sunday. They alleged that the proposed track will encroach on the road connecting at least five villages....
National Green Tribunal denies Hindalco forest clearance to transport bauxite mined from Maharashtra
The National Green Tribunal has dismissed Hindalco's plea challenging the Maharashtra government's refusal to grant it three more months, after expiry of its forest clearance, to transport around 1.6 lakh tonnes of bauxite mined from Kolhapur district. A bench headed by Justice V R Kingaonkar also...
India’s FM proposes 10% export duty on bauxite in 2013 Budget
2013 Union Budget of India has proposed to levy 10 per cent export duty on bauxite, a raw material for making aluminium. The FM's proposal to impose a 10% export duty on bauxite on an ad valorem basis is likely to discourage exports of an important raw material for aluminium industry. It will thus...
Hindalco shares to improve on strong alumina outlook
Deutsche Bank has reiterated its 'buy' rating on Hindalco and maintained the target price of Rs 148, an upmove of over 39 per cent from the current market price, on improving alumina pricing outlook. According to the brokerage, spot alumina prices have moved sharply higher recently on expectations...
Hindalco declares lockout at Silvassa plant
Aditya Birla Group flagship firm Hindalco Industries today announced a lock-out at its Silvassa plant in Dadra and Nagar Haveli following continuation of workers' strike. "...Due to continuation of illegal strike by workmen at company's Silvassa plant, the company is forced to declare a lock-out...
