India’s electronics aluminium demand to grow 10.18% CAGR: Why aren’t makers benefiting from strong domestic production?
India’s aluminium smelters operate with some of the highest margins in the value chain, at around 10 per cent, but this profitability is not reflected among downstream manufacturers, where margins are closer to 5 per cent. These companies convert the metal into finished products such as heat sinks,...
India's ₹9,150b power grid push could drive new aluminium demand
India's planned transmission investment and renewable-energy expansion could lift aluminium consumption in electrical applications to 4 million tonnes by FY30. India's push to expand its electricity transmission network is emerging as a major potential growth driver for aluminium, with the...
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Vedanta-hosted IAC 2023 concludes, leaders from 13 countries across the world in-attendance
The largest aluminium producer in India, Vedanta Aluminium, hosted the first edition of the International Aluminium Conference 2023 (IAC 2023) held on February 9-10, 2023 at its operations in Jharsuguda, Odisha in partnership with the Aluminium Association of India, concluded with a high hope by...
Bharat Forge reports 81% decline in net profit for Q3 FY23; overseas performance remains sluggish
The Indian multi-national company involved in the forging and automotive components manufacturing, Bharat Forge's overseas business posted an EBITDA loss of INR 62 crore in the December quarter (Q3FY23) on new product issues related to the capacity increase of aluminium forging capacity in Germany...
Vedanta reduces its aluminium ingot selling price to INR227,750-258,250/t w.e.f. February 14
Vedanta Limited cut its aluminium ingot and aluminium products prices by INR 3,500 per tonne on Tuesday, February 14. That brought the company’s aluminium ingot price to INR 227,750-258,250 per tonne versus INR 231,250-261,750 per tonne on February 7. With the latest cut, Vedanta’s aluminium wire...
Aluminium casting solutions from Taural India may replace imports for vital sectors
Taural India, located in Pune, Maharashtra founded by a young entrepreneur Bharat Gite in 2016 to create aluminium casting solutions that could replace imported products in the sectors like defence, energy, healthcare, railways, and aerospace. India has attained the list to become the world's...
India’s aluminium scrap imports from the US continue to display M-o-M downtrend in Nov’22: USGS
India’s aluminium scrap imports from the United States have been falling through the past three months to reach as low as 28,800 tonnes in November 2022 versus 40,800 tonnes in October, according to the US Census Bureau data. That was a month-on-month decline of 12,000 tonnes or 29.41 per cent in...
Golkonda Aluminium Extrusions reports a 52% decline in net profit for Q3 FY23
Golkonda Aluminium Extrusions Ltd, formerly known as Alumeco India Extrusions, has reported a total income of INR 0.106 crores during the quarter ended December 31, 2022, compared to INR 0.224 crores during the quarter ended September 30, 2022. The company posted a net profit of INR 0.004 crores...
Nalco posts INR 274 crores net profit in Q3 FY23, up 61%
On February 10, 2022, the Indian state-owned integrated aluminium company, National Aluminium Company Limited (Nalco), reported a net profit of INR 274 crore in Q3 FY 2022–2023, a rise of 61% from the previous quarter. According to the reviewed financial results for the third quarter of FY 23 that...
Vedanta’s aluminium wire rod price experiences a continued cut of 2% with effect from February 10
Vedanta Limited has further reduced its aluminium ingot and aluminium products prices in response to the incessant LME aluminium price fall for over a week. The latest price chart indicates the company’s aluminium wire rod price has experienced a cut of INR 5,000 per tonne or 2 per cent, with...
Primary aluminium weekly recap: Hindalco posts a 20% hike in nine months revenue for FY23; Vedanta launches the 1st edition of the ‘International Aluminium Conference 2023’ in Odisha
The global primary aluminium sector witnessed some significant events this week. Also, the fact that aluminium is one of the most critical metals can be understood with the proposal of Australian experts suggesting enlisting this silvery-white metal as a crucial mineral. Mike Ferraro, CEO and...
Hindalco deducts INR5000/t from its aluminium ingot price with effect from February 10
Hindalco Industries Limited has continued reducing the prices of its aluminium ingot and aluminium products, effective from Friday, February 10, for the past week. Today’s deduction marks the third consecutive cut bringing the company’s aluminium ingot price to INR 230,250 per tonne, down by INR...
Uno Minda to acquire the remaining 22.64% ownership of Minda Kosei Aluminium Wheels
The Gurgaon-based Uno Minda Group has announced plans to invest INR 115.5 crore to buy out its Japanese partner Kosei's remaining 22.64 per cent ownership in its joint venture company, Minda Kosei Aluminium Wheels. In India, alloy wheels are increasingly being used on both two- and four-wheeled...
Vedanta Aluminium expands its wire rod offerings at IAC 2023 with the new 12 mm version
On Thursday, February 9, Vedanta Aluminium grabbed the opportunity at its first International Aluminium Conference (IAC) 2023 to have announced the launch of a 12 mm aluminium wire rod for the electrical industry. Vedanta Aluminium is a world-renowned producer (outside China) of high-quality...
Vedanta grandly launches the 1st edition of the ‘International Aluminium Conference 2023’ in Odisha
India’s largest aluminium producer and one of the world’s leading aluminium producers, the ‘Metal of the Future’, Vedanta Aluminum, grandly launched the 1st edition of the International Aluminium Conference 2023’ (IAC 2023) at its operational location in Jharsuguda, Odisha. In collaboration with...
Hindalco posts a 20% hike in nine months revenue for FY23 on higher primary aluminium shipments
On Thursday, February 9, Hindalco Industries Limited, a subsidiary of the Aditya Birla Group, announced the fourth quarter results ended December 31, FY2022-23, reporting a 6 per cent year-on-year rise in revenue to INR 53,151 crore. But on a quarter-on-quarter basis, the revenue stood 5.38 per...
Nokia to launch X30 5G smartphone with 100% recycled aluminium framework in India
The Nokia X30 5G, composed of 100 per cent recycled aluminium and 65 per cent recycled plastic, launched internationally in September 2022, is expected to be unveiled very soon in India. Sanmeet Kochhar, vice president of HMD Global for India & MENA, recently teased the Nokia X30 5G debut on...
Vedanta reduces its aluminium ingot selling price by INR6250/t with effect from February 7
Vedanta Limited has extended its aluminium ingot and products price cut with effect from Tuesday, February 7. The company has reduced its aluminium ingot price by INR 6,250 per tonne or 2.58 per cent to INR 236,250-266,750 per tonne versus INR 242,500-273,000 per tonne on February 3. Vedanta’s...
Sangam, the work of art by designer Subodh Gupta is crafted using aluminium utensils
Aluminium can be called the favourite metal of architects and designers. Due to its unique attributes, the silvery white metal can be found in almost all sectors. Indian artist Subodh Gupta was invited to the 8th edition of Contemporary Art, organised at Le Bon Marché Rive Gauche, a department...
MAAN Aluminium records 257% Y-o-Y hike in net profit for 3QFY23
MAAN Aluminium, an India-based aluminium products manufacturer and seller, announced its third quarter results that ended December 31, FY2023, reporting net sales of INR 189.62 crore versus INR 188.20 crore in the September quarter. The data indicated the company’s Q3 net sales improved marginally...
