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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Relief for NALCO and Hindalco investors as aluminium demand to outpace supply through H2 FY2022
Aluminium has been seeing a volatile trend in the global metals market for the past two months. In mid-October, the LME aluminium prices hit multi-year highs at US$3198/t but then recorded a steep downfall to US$2550/t in early November before stabilizing at around US$2700/t. Going ahead,...
Primary aluminium weekly recap: 1.8 million tonnes of aluminium seized in Vietnam fuel price escalation; BALCO dispatches first rake of its fly-ash
Some of the top news that created a buzz in the primary aluminium industry this week included the hoard of 1.8 million tonnes of aluminium worth $5 billion in Vietnam drove China’s metal supply through a drastic crisis and fuelled the escalation of prices globally. The aluminium supply in Vietnam...
Coal India Board sanctions pre-feasibility report for integrated aluminium project in Odisha
On Tuesday, November 23, the Indian government-owned Coal India Limited (CIL) said that its board approved a pre-feasibility report for settling up an integrated aluminium project in Odisha. In December 2020, the miner received in-principle approval for stepping into the aluminium and solar sectors...
BALCO dispatches its first fly-ash rake for ‘green’ cement manufacturing
India’s iconic aluminium producer, Bharat Aluminium Company (BALCO) has recently dispatched its first rake of fly-ash to a prominent cement manufacturer, to aid in the production of low-carbon cement. This is a significant stride in BALCO’s aim of ensuring 100% fly-ash utilization in a gainful...
Hindalco Industries increases its aluminium billets selling price by INR4500/t after two days of decline
Hindalco Industries Limited has grown its aluminium products and aluminium ingot prices with effect from Tuesday, November 23, following two consecutive days of cut on November 17 and 19. Hindalco has increased its aluminium billets price by INR 4,500 per tonne to INR 241,600 per tonne on November...
Primary aluminium weekly recap: Aluminium smelter explosion in China’s Yunnan province fuels surge in price of the metal; Scottish Govt. compelled to unveil the guarantee provided to Sanjeev Gupta’s GFG Alliance
The global primary aluminium segment has been in the spotlight this week due to a number of events. To begin with, Ali Al Baqali, the Chief Executive Officer of Aluminium Bahrain B.S.C. (Alba), received the 'People First Leader Award' at the GCC GOV HR Awarding Ceremony 2021 on October 26, 2021. It...
Downstream products weekly recap: Hindalco proposes to repay INR 6,000 crore debt; Evtec acquires Sanjeev Gupta’s Liberty Aluminium Technologies
The downstream segment of the global aluminium industry remained insightful this week, with the world’s largest aluminium rolling company, Hindalco plans to repay INR 6000 crore debt and it also projects to marginally reduce the capital expenditure to INR 2,400 crore. The same Hindalco Industries...
Nalco’s production and sales in FY22 will reach record levels: CMD Sridhar Patra
On 18 th November 2021, Sridhar Patra, the Chairman and Managing Director of the Indian state-owned National Aluminium Company (NALCO), mentioned that the production and sales figure in FY22 will reach record levels. The integrated aluminium company declared earnings for the September-ended quarter...
Vedanta envisions Indian aluminium production to reach 5 million tonnes in the next 5-6 years
On 18 th November 2021, Deeptaman Mukherjee, the Director of Commodities for Vedanta’s Aluminium Business stated that annual aluminium production in India could attain five million tonnes in the next five to six years, which is an increase of around 25% from current levels. Mukherjee said based on...
Enterprise Odisha 2021: Vedanta Aluminium plans to collaborate with entrepreneurs and start-ups
At Enterprise Odisha 2021, Vedanta Aluminium Business, India's biggest manufacturer of aluminium and its value-added products, revealed intentions to work on innovation and technology with entrepreneurs and start-ups. The 23rd edition of Enterprise Odisha, organised by the Confederation of Indian...
Hindalco proposes to repay INR 6,000 crore debt, plans to scale down capital expenditure
The Indian multinational aluminium and copper manufacturing company, Hindalco Industries formulates to repay INR 6,000-crore debt from next June to pull down its debt further. The metal company has narrowed its net debt to INR 66,831 crore as of September end against INR 78,266 crore documented in...
NALCO receives IIM Non-Ferrous Best Performance Award 2020-21
The Indian Institute of Metals (IIM) has awarded Navratna CPSE National Aluminium Company Limited (NALCO) the Non-Ferrous Best Performance Award 2020-21 in the large scale manufacturing unit category. Shri Sridhar Patra, CMD, NALCO, accepted the award on behalf of the firm during a virtual award...
Non-ferrous metal scrap processor Nupur Recyclers files draft prospectus for IPO with NSE Emerge
The leading company in the non-ferrous metal scrap processing and recycling in India, Nupur Recyclers has filed a draft prospectus with the NSE Emerge, the National Stock Exchange of India's new initiative for small and medium-sized enterprises and start-up companies from India, to raise funds via...
Hindalco posts PAT of INR 3,417 crore in Q2
The subsidiary of Aditya Birla Group, Hindalco Industries revealed an upsurge of 783% in consolidated net profit to INR 3,417 crore in Q2 FY22 from INR 387 crore in Q2 FY21. Hindalco’s consolidated revenue for Q2 stood at INR 47,665 crore as against INR 31,237 crore in the same phase last year,...
CESTAT grants relief to Tata Motors by ruling non-liable of ‘Excise Duty’ on aluminium dross and skimming in manufacturing of aluminium parts for motor vehicles
The financial capital of India, Mumbai’s bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) granted relief to Tata Motors by ruling non-imposing of excise duty on the development of aluminium dross and skimming during the production of aluminium castings/parts of motor...
Nalco posts seven-fold upswing in profit to INR 747 crore in Q2
On 12 th November 2021, the Indian state-owned company having integrated and diversified operations in mining, metal and power under the ownership of the Ministry of Mines, National Aluminium Co Ltd (Nalco) reported a nearly seven-fold upswing in consolidated profit at INR 747.80 crore for the...
Odisha, India: OERC’s positive move benefits the aluminium industry and state
The Odisha Electricity Regulatory Commission’s positive move by allowing one unit of Vedanta IPP adding to the surplus power within the state to utilize its power for aluminium production within the state which would be developing thousands of employment in and around Jharsuguda. As a judicial...
Pragun Khaitan bags the Machinist Next Gen Leader 2021 Award
India’s first and only red-carpet ceremony for the country’s discrete manufacturing industry, the Machinist Super Shopfloor Awards, in its seventh edition, presented the Vice Chairman and Managing Director of Jindal Aluminium Limited, Mr Pragun Khaitan with ‘The Machinist Next Generation Leader...
