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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Maan Aluminium reports over 100% quarterly hike in net profit despite 21.5% decline in sales during 1Q2022
Maan Aluminium, a downstream aluminium producer in India, has announced its net sales of INR 129 crore for the March quarter of 2022, down by 21.55 per cent from INR 164.44 crore in the December quarter and 20.99 per cent lower than INR 163.27 crore during the same period last year. But despite the...
India: MSME sector applauds govt. for reducing duty on raw materials, advocates more for aluminium
On 22 nd May 2022, the Micro, Small and Medium Enterprises (MSME) sector players of India praised the government’s decision to lessen the duty on raw materials for steel and plastics in a way to reduce the prices. However, the sector owners stated that to ensure Indian exporters are not outbid by...
Primary aluminium weekly recap: Odisha government approves INR 428.95 crore budget for a mega aluminium park in Angul; Hydro plans to invest NOK 320 million in Karmøy aluminium smelter
This week the global primary aluminium sector witnessed a lot of major happenings. Many new projects and agreements were unlocked. To begin with, Hydro announced its plan to invest NOK 320 million in the Karmøy aluminium smelter. The project will start in the fourth quarter of 2022 and terminate in...
IDRC dismisses RAKIA’s claim against India on the Bauxite Supply Agreement
The Andhra Pradesh state government has achieved a major victory against Ras-Al-Khaimah Investment Authority’s (RAKIA) $273 million damage claim by over cancellation of the Bauxite Supply Agreement (BSA) inked by AP Mineral Development Corporation in October 2008. RAKIA, Penna Group and the Andhra...
US aluminium scrap exports to India in February’22 shows M-o-M downfall of 300 tonnes
In February 2022, the United States exported 11,600 tonnes of aluminium scrap to India, which on an M-o-M scale heightened by 300 tonnes or 2.65 percent from 11,300 tonnes in January 2022. As per the USGS data, the amount in January had nosedived by 31,000 tonnes or 73.28 percent from 42,300 tonnes...
Vedanta’s aluminium ingot price mounts to INR253,750 – 289,450/t as LME price continues to rally
Vedanta Limited has continued to expand its aluminium ingot and aluminium products prices as the LME aluminium benchmark price records an interrupted growth. With effect from Wednesday, May 18, Vedanta has raised its aluminium ingot price by INR 4,750 per tonne or 1.9 per cent to INR 253,750 –...
Odisha government approves INR 428.95 crore budget for a mega aluminium park in Angul
According to a report on Wednesday, May 18, the Odisha government has approved a budgetary provision of INR 428.95 crore for the development of a mega aluminium park in Angul. The state cabinet members took the decision at a meeting chaired by Odisha Chief Minister Naveen Patnaik. The objective is...
Hindalco raises its aluminium wire rod & billets prices by INR10500/t with effect from May 18
Hindalco Industries Limited has continued to increase its aluminium products and aluminium ingot prices as the global aluminium benchmark price on the London Metal Exchange rallies back-to-back. With effect from Wednesday, May 18, Hindalco’s aluminium wire rod price has experienced a sharp rise of...
Vedanta Aluminium enters a long-term contract with NHAI to build greener roads with fly-ash
According to a recent report, Vedanta Aluminium has signed a long-term contract with the National Highways Authority of India (NHAI) to construct greener roads with fly-ash in Odisha. The news came on Tuesday, May 17, after Vedanta announced it officially in a statement, "The company has... entered...
Vedanta Aluminium scores hat-trick at 11th Fly Ash Utilization Conference Expo Awards
Vedanta Aluminium has scored a hat-trick at Mission Energy Foundation’s 11th Fly Ash Utilization Conference Expo Awards for effective fly-ash management. Vedanta’s Jharsuguda Power Plant in Odisha has won in the category of >=500 MW and =500 MW, while its Chhattisgarh-based affiliate BALCO received...
Vedanta expands its aluminium billet price by INR5750/t in response to LME aluminium price rally for supply shortage in Europe
Vedanta Limited has further raised its aluminium products and aluminium ingot prices, with effect from Tuesday, May 17, in response to back-to-back LME aluminium price hike this week. As per the revised prices revealed, Vedanta has expanded its aluminium billet price by INR 5,750 per tonne or 2.29...
Recycled aluminium weekly recap: Hydro produces its first near-zero carbon aluminium at Clervaux made with 100% post-consumer scrap; Growth of aluminium scraps trading in Linyi slows down due to penurious demand
The recycled segment is witnessing some of the best events in the last few weeks, and this week also it remained the same. In Luxemburg, Hydro generated 130 tonnes of CIRCAL 100R at its Clervaux recycling factory, with 100 per cent post-consumer scrap achieving its goal of first net-zero carbon...
Downstream weekly recap: Novelis announces record net sales of $17.1 billion for FY2022; TANSIDCO planning to set up aluminium die-casting facility at Chinnavedampatti
The global aluminium industry's most crucial, downstream segment remained highlighted due to some of the potential news. A lot of companies like Hydro extrusion Suzhou, Alumex PLC, and the Hindalco Hirakud-FRP plant received their ASI certifications. Apart from this, Novelis reported record net...
Vedanta’s aluminium ingot price gains INR2000/t with effect from Saturday, May 14
Vedanta Limited has increased its aluminium ingot and aluminium products prices, with effect from Saturday, May 14, as the LME aluminium benchmark price regained by US$35 per tonne on Friday, May 13. On Thursday, Vedanta’s aluminium prices were slashed by INR 3,000 per tonne in response to the LME...
Manaksia Aluminium’s Q4FY22 results records a drop of 28.67% to INR1.7920 crores
Manaksia Aluminium announced its financial results for the period ending March 31, 2022. As per the data, the firm earned a total income of INR 128.9419 crores on March 31, 2022. On a Q-o-Q comparison, the price went down by 1.16 per cent from INR 130.4571 crores for the quarter ended December 31,...
Vedanta Limited cuts aluminium wire rod & billet prices by 3% with effect from May 10
Vedanta Limited is continuing to cut its aluminium products and aluminium ingot prices in line with the incessant downfall of the LME aluminium benchmark price. On Tuesday, May 10, Vedanta slashed its aluminium wire rod price by INR 8,250 per tonne or 3.2 per cent to INR 249,750 - 257,250 per...
MRAI addresses the success of IMRC conference aiming to make India a global recycling hub
The apex body representing the interest of the Indian recycling industry, the Material Recycling Association of India (MRAI), to make India a global recycling hub, has been precisely working toward developing a circular economy and sustainable recycling operations inside the country. The 9th IMRC...
Vedanta Aluminium signs MoU with NFSU to build stronger security professionals for its own
On Tuesday, May 10, Vedanta Aluminium, India’s largest aluminium producer, has announced the signing of a Memorandum of Understanding (MoU) with the National Forensic Sciences University (NFSU) to conduct research, training and academic activities for its security professionals. The news came after...
