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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Q1 FY 22: Hindalco Industries reports all-time high consolidated net profit of INR 2,728 crore riding on the back of aluminium business
On 6 th August 2021, the flagship metal arm of Aditya Birla Group, Hindalco Industries stated that the company has reported an all-time high consolidated Q1 net profit at INR 2,787 crore, as compared to a loss of INR 709 crore in Q1FY21. The company further said that the results were navigated by a...
NALCO reports 77.26% hike in income for June quarter
National Aluminium Company Limited (NALCO) published results for the quarter ended June 2021. The company’s net profit increased by 981.97% to INR 347.48 crore in the June quarter. Net profit was INR 16.69 crore during the quarter ended June 2020. The company reported income of INR 2506.29 crore in...
Vedanta Aluminium Business wins three Gold Awards at SNEMA 2020
Vedanta Aluminium Business has won three Gold Awards at the SEEM National Energy Management Awards (SNEMA) 2020 for excellence in energy management at its Aluminium Smelters I & II and 1215MW Captive Power Plant at Jharsuguda, Odisha. Vedanta’s 1215MW Captive Power Plant and 2400 MW Thermal Power...
Maan Aluminium reports above 200% Y-o-Y growth in net profit for 1QFY22
Maan Aluminium has presented the financial results of the first quarter of FY2022 ended on June 30, revealing a year-on-year increase of 222.98 per cent in net profit to INR 5.20 crore. In the June quarter of FY21, the company’s net profit stood at INR 1.61 crore. On a quarter-on-quarter basis,...
Hindalco Industries slashes its aluminium products price by INR 2,000/t
Hindalco Industries Limited has further slashed its aluminium products price today. With effect from Thursday, 05 August 2021, aluminium billets and wire rods prices stand at INR 229,100 per tonne and INR 233,100 per tonne. This marks a drop of INR 2,000 per tonne from INR 231,100 per tonne and INR...
EV start-up Mean Metal Motors reveals India’s First Electric Supercar ‘AZANI’, built around skateboard aluminium chassis
Bengaluru-based Mean Metal Motors has introduced a brand new Azani model as India’s first-ever all-electric hypercar. Built around a skateboard aluminium spaceframe chassis, the all-new Azani model has a futuristic design and boasts performance figure. According to the automaker, the Azani can...
Vedanta continues to decrease aluminium ingot price by INR2000/t on Aug. 5 in line with further drop in LME aluminium price
Vedanta Limited has continued to decrease its aluminium ingot and aluminium product prices for the second straight day by INR 2,000 per tonne. With effect from Thursday, August 5, Vedanta’s aluminium ingot price has been reduced to INR 222,500-235,500 per tonne from INR 224,500-237,500 per tonne a...
Wheels India starts production of cast aluminium wheels at its new facility
Wheels India has announced the commencement of cast aluminium wheels production at its new facility at Thervoy Kandigai. The company has also started to export these products the US market, said S Ram, Chairman of Wheels India while addressing shareholders at the 62nd AGM. He added that the demand...
Hindalco Industries: aluminium products price slips by INR 2,500/t with effect from August 4
Hindalco Industries Limited has cut its aluminium products price by more than 1%. With effect from Wednesday, 04 August 2021, aluminium billets and wire rods prices have come in at INR 231,100 per tonne and INR 235,100 per tonne, which indicates a decline of INR 2,500 per tonne from INR 233,600 per...
Vedanta reduces its aluminium wire rod price by 1% to INR232,000-239,500/t on August 4
Vedanta Limited has decreased its aluminium ingot and aluminium product prices with effect from Wednesday, August 4, in line with the fall in the LME aluminium benchmark price on August 3. Vedanta is currently selling its aluminium wire rod at INR 232,000-239,500 per tonne, down by INR 2,750 per...
AlCircleBiz: World’s 1st online marketplace for the global Aluminium Industry got featured across crowned media networks
On 3 rd August 2021, AlCircleBiz, the world’s premier online marketplace for the global Aluminium Industry was exhibited across all the top media networks in India. The success story of the online marketplace, AlCircleBiz has been covered by the following renowned media houses: The portal dedicated...
NALCO’s aluminium ingot price soars by over INR10,000/t w.e.f. July 31; Present selling price is at INR225,250-228,750/t
National Aluminium Company Limited (NALCO) has sharply increased its aluminium ingot price by INR 10,100 per tonne or 4.7 per cent with effect from Saturday, July 31. This soar in price has brought the company’s aluminium ingot price to INR 225,250-228,750 per tonne compared to INR 215,150- 218,650...
MMP Industries bags large scale order from Hetero Healthcare to supply aluminium foil products
MMP Industries, the manufacturers of aluminium powders, pastes, aluminium conductors and aluminium foils has received a large scale order from the Hyderabad based pharmaceutical company Hetero Healthcare Limited to supply aluminium foil products. The Nagpur, Maharashtra headquartered company...
Vedanta Aluminium procures 354 million units of renewable energy, becomes India’s largest green power purchaser
Vedanta Aluminium Business purchased 354 million units of solar and non-solar renewable energy primarily from Green Term-Ahead Market (GTAM) at IEX. The renewable energy will be used for its aluminium production unit at Jharsuguda, in Odisha. With this acquisition, Vedanta Aluminium became India’s...
Vedanta sees INR 5,750/t hike in its aluminium ingots price
Vedanta has further hiked its aluminium products price by more than 2%. With effect from Saturday, July 31 2021, the prices of some aluminium ingots have come in at INR 227,250-240,250 per tonne, an increase of INR 5,750 per tonne from INR 221,500-234,500- per tonne on July 30. The billets price...
Top Newsmakers for July 2021: EGA flags century shipload of bauxite exported from Guinea; Vedanta to expand Balco's smelter capacity with INR 6,611 crore investments
The global aluminium industry remained enterprising in July 2021. The June quarter financial results revealed that most of the companies in the sector recorded revenue growth due to the global rise in aluminium prices. The positive trend of the market has delivered the industry some extra strength...
Hindalco projects to invest INR 8,000-10,000 crore in aluminium downstream business
Hindalco Industries Limited, a subsidiary of the Aditya Birla Group is projecting to inject around INR 8,000-10,000 crore at Hirakud, Silvassa, and Mundra facilities in India. Hindalco stated in its annual report 2020-21: “The group proposes to invest towards the expansion of flat rolling capacity...
Titagarh Wagons’ plant in Italy flags first aluminium train coaches for Pune Metro
On 31st July 2021, India’s leading designer and manufacturer of modern rolling stock Titagarh Wagons Ltd stated that its plant in Italy has flagged the first train for Pune Metro coach, made of aluminium out of the 34 trains. In August 2019, Titagarh Firema SpA, a wholly-owned subsidiary of...
