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 may double sales in five years on Audi, Jaguar Orders
Hindalco Industries Ltd. (HNDL), the world’s biggest supplier of aluminum to carmakers, may double group sales to $33 billion in five years as Audi AG (NSU) and other European carmakers swap steel with the lightweight metal. “Automobiles are a huge prospect,” Debnarayan Bhattacharya, managing...
Novelis compensates for Hindalco's domestic losses
Hindalco Industries Ltd’s domestic operations struggled in the aftermath of lower metal volumes and prices, even as costs headed north. The only spot of good news is that Novelis Inc., its international subsidiary, is doing well as rising conversion premiums for its value-added aluminium products...
Tribal protest halts Hindalco's bauxite mining at Mali Hill, Odisha
The bauxite mining operation in Mali Hill in south Odisha’s Koraput district by Hindalco Industries has been stopped due to the agitation by the local tribal people. Taking up cudgels under the banner of Mali Parvata Surakhya Samiti (MPSS), the tribal people of the area have launched an agitation...
Novelis to Host First Quarter Fiscal Year 2013 Earnings Conference Call
Novelis Inc. will report its earnings for the first quarter of fiscal year 2013 on Tuesday, August 14, 2012. Following the release, President and Chief Executive Officer Philip Martens and Chief Financial Officer Steve Fisher will discuss the results via a live web and audio conference call for...
Indian Aluminum Producers hit by electricity subsidy in China and Australia
Recent distortions in the international aluminum markets, some of them caused by subsidies granted by the Chinese and Australian governments to domestic aluminum smelters, have indirectly had a negative impact on Indian aluminum producers. Industry majors may not have said this openly, but a...
Tribals oppose mining in Orissa's Mali hills
Tribals of Koraput's Mali hills of Orissa have threatened to launch an agitation from August 9 if the government does not stop mining activities in their area. Taking up cudgels under the Mali Parbat Surakhya Samiti (MPSS), tribals alleged that 44 villages in Sorispodar, Hudi, Dalaiguda and...
Hindalco with a target price of Rs 164 rated' Buy' rating by Citigroup
Citigroup has maintained its 'Buy' rating on Hindalco with a target price of Rs 164. Hindalco has underperformed the Sensex by 24% in the past year on plant delays, weak LME prices and Mahan coal block uncertainty. PAT gains in both years were from higher realizations; lower depreciation and...
Indian Aluminium biggies avoid output cut depite the present global trend
Despite the benchmark aluminium price on the London Metal Exchange (LME) falling below cost of production, metal producers in India are avoiding output cut at least for the current fiscal amid hope of revival in its price in the second half of the year. This is important in view of the global...
Hindalco to seek funding for its Odisha smelter
Hindalco Industries, part of the Aditya Birla Group, is in the process of seeking funding for its biggest greenfield aluminium project in the east coast state of Odisha in India. The company had planned to build a 0.36Mt aluminium smelter alongside a 1Mt alumina refinery, but is now planning a...
Aditya Birla Group has big plans for the aluminum and copper sectors
Despite the current sluggishness in the non-ferrous metals markets, India’s Aditya Birla Group has some pretty big plans for the aluminum and copper sectors. To begin with, the Group’s flagship company, Hindalco, also India’s largest non-ferrous metals producer, has made some headway by raising...
Mining permit delays Cameroon alumina project
More than three years on and a $4.3 billion project to build a bauxite mining and alumina refinery in Cameroon is still waiting for a mining permit, a company executive said on Friday. India's Hindalco, Dubai Aluminium Company (Dubal) and Hydromine Inc announced plans for their Cameroon Alumina Ltd...
Edelweiss Securities sees 5-7% rise in Sterlite Industries stocks
Badkar told CNBC-TV18, "I think across metal stocks Tata Steel , Sterlite, Sesa Goa , Hindalco – we have seen good amount of short covering. It looks like the positions aren’t very heavy right now. They seem to be little subdued but all these stocks are by and large on a bullish trend and within...
Hindalco shares rising after 38% leap in annual profit
The stock of Hindalco Industries, one of the biggest underperformers from the metals sector so far this year, has risen 3.25% to Rs 119 on the Bombay Stock Exchange so far in trade today, a day after the company announced its consolidated per share earnings rose 38% for the year ended March 2012....
Hindalco to Raise Funds Through NCDs
Hindalco has issued 10-year R1500Cr 9.55% secured redeemable NCDs having face value of R10 lakh each through private placement. These funds will be used for capital expenditure, working capital and debt refinancing. In April, it raised around R3000Cr through NCDs. Hindalco is currently implementing...
Hindalco to raise funds for its Odisha Greenfield project
Hindalco Industries, AdityaBirla Group's flagship firm is on an aggressive drive to raise funds for its biggest Greenfield project in Odisha. The country's largest non-ferrous metals producer plans to tap about Rs 9,000 crore for the project, which is being re-configured mirroring the ambitions of...
Aditya Birla Group plans to relocate UK Aluminium foil mill to India
The Aditya Birla Group plans to shut part of its aluminum foil making mill in the UK and relocate the plant to its unit near Nagpur. The move is aimed to crack the whip on unviable units in the European market, which are currently grappling with oversupplies and high energy costs. The Bridgnorth...
Hindalco consolidated net profit up by 38%
Hindalco Industries, an Aditya Birla Group company, registered a 38 per cent increase in consolidated net profit at Rs 3,397 crore (Rs 2,456 crore) in FY12. It recorded the highest-ever consolidated revenue of Rs 80,821 crore (Rs 72,202 crore), aided by better product mix and rupee depreciation....
Hindalco to continue expansion despite weak market
Aluminium prices have crashed from $2700 to $1700 per tone in a gap of 15 months, input costs are rising, so are fuel costs, but Hindalco Industries Ltd is on the verge of a massive expansion plan. Is the expansion plans justified? “When Hindalco planned this massive expansion, the foreseen...
