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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Volnaa brings a change, all set to launch natural mineral water in aluminium cans
Drinking water in pet bottle has been rooted a cause of concern for many livelihoods, as plastic throws a negative impact on our health and it is also extremely hazardous for the environment. As time has progressed, Volnaa Beverages has come to bring a change, as they are ready to launch their...
Hindalco to resume on-hold projects, plans for INR 2700 crore investment
The Aditya Birla Group subsidiary, Hindalco Industries intends to commence all the projects there that were put on hold due to the Covid-19 pandemic and also plans to invest around INR 2700 crore in the current fiscal against ₹1,600 crore in FY’21. The world’s largest aluminium rolling company had...
Wheels India plans INR 100 crore Capex for wind energy development; large investment in consideration for the cast aluminium plant phase II
On 22nd May 2021, a higher management staff of India’s largest auto component manufacturer, TVS Group promoted Wheels India Ltd. revealed that the company has planned for a capital expenditure of INR 100 crore in 2021 towards the wind energy segment and all set to develop a plant near Chennai....
Hindalco Q4 profit escalates 189%, powered by Novelis and India aluminium business
The Indian aluminium and copper manufacturing company, Hindalco industries registered a whopping 189% Y-o-Y growth in consolidated profit at INR 1,928 crore in the March 2021 quarter, powered by Novelis and India aluminium business. In Q4FY21, the consolidated revenue was at INR 40,507 crore,...
Vedanta reduces its aluminium wire rod & billet prices by over 2% with effect from May 20
Vedanta Limited has decreased its aluminium products and aluminium ingot prices on May 20, following a raise on a day ago. Vedanta is now selling its aluminium wire rod at INR 210,000-217,500 per tonne, which is INR 5,500 per tonne or 2.5 per cent less than INR 215,500-223,000 per tonne on May 19....
Nigeria’s import of aluminium wire during 2018-20 remains unsteady, expenditure rises
The highest GDP maker of Africa, Nigeria has shown that its recovery is expected to be weak and gradual under the current policies. The real GDP growth in 2021 is expected to turn positive at 1.5% and is expected to recover to its pre-pandemic level only in 2022. The West African nation on the Gulf...
Hindalco’s aluminium wire rod and billets prices experience further cut of INR3500/t on May 20
Hindalco Industries Limited has been reducing its aluminium products and aluminium ingot prices since last Wednesday, May 12, in tandem with the downfall of the LME aluminium benchmark price. The company has cut its aluminium wire rod price yet again with effect from May 20, bringing the price to...
Vedanta increases aluminium ingot price by INR1500/t w.e.f. May 19 after two consecutive cuts last week
Vedanta Limited has increased its aluminium ingot and aluminium products prices by INR 1,500 per tonne with effect from Wednesday, May 19, following two consecutive cuts last week on May 13 & 15. Vedanta’s aluminium ingot price has come in at INR 208,000-221,000 per tonne compared to INR...
Vedanta Aluminium to invest $300 million in current fiscal; Lanjigarh alumina refinery expansion remains the primary focus
The Chief Executive Officer of Vedanta Aluminium, Ajay Kapur stated: “Vedanta Aluminium has set a capital expenditure target of $300 million for the current fiscal.” Kapur added: “Our most significant expansion will be at our Lanjigarh alumina refinery, subject to government approvals, the majority...
Hindalco Industries’ wire rods price declines to stand at INR 217,350/t
Hindalco Industries Limited has slashed its aluminium products price by around 1.39%. With effect from Saturday, 15 May 2021, aluminium billets price has dropped by INR 3,000 per tonne from INR 216,350 per tonne on May 13 to stand at INR 213,350 per tonne. The company’s wire rods price stands at...
International Day of Families: Vedanta Aluminium declares COVID term insurance for business partner employees
India’s largest producer of aluminium and value-added aluminium products, Vedanta Aluminium on 15 th May 2021, observing the occasion of International Day of Families 2021, declared the COVID Kavach (Shield) Term Insurance Policy for employees of business partners across its plants in Jharsuguda...
Vedanta cuts its aluminium ingot price by INR 3,000/t on May 15
Vedanta has reduced its aluminium products price by INR 3,000 per tonne. With effect from Saturday, 15 May 2021, the prices of some aluminium ingots have declined by more than 1% to stand at INR 206,500-219,500 per tonne from INR 209,500-222,500 per tonne on May 13. The company’s billets price...
Nalco expands support to fight against Covid-19 second wave in Odisha
On 14 th May 2021, the Indian State-owned integrated mining and metal company, Nalco stated that it is expanding its support towards the 70-bed Covid centre at Saheed Laxman Naik Medical College at Koraput, Odisha to make the facility fully functional. Equally, Nalco has also extended its support...
Vedanta hits all time high EBITDA at INR 9,107 crore in Q4; Aluminium production stands at 1,969kt
Vedanta Limited announced its audited consolidated results for the fourth quarter and full year ended 31st March 2021. For Q4 FY2021, the company reported all time high EBITDA at INR 9,107 crore, up 18% quarter-on-quarter and 88% year-on-year due to “higher volumes at Zinc India, Aluminium & Iron...
Vedanta sharply cuts its aluminium wire rod and billet prices by INR7250/t as LME aluminium benchmark price shrinks
Vedanta Limited, a subsidiary of Vedanta Resources Limited, has sharply cut its aluminium products and aluminium ingot prices with effect from Thursday, May 13. Vedanta's aluminium wire rod price has come in at INR 217,000-224,500 per tonne, down by INR 7,250 per tonne from INR 224,250-231,750 per...
AAI calls for immediate implementation of 5% RoDTEP for Indian Aluminium Industry to tackle COVID Crisis
The Aluminium Association of India (AAI) has requested the implementation of RoDTEP Scheme (Remission of Duties or Taxes on Export Products) for Indian Aluminium Industry on an immediate basis. The news came after senior officials of the ministries of Commerce & Industry and Finance & Corporate...
Hindalco Industries’ aluminium billets price up by 1.24% to INR 224,100 /t
Hindalco Industries Limited has raised its aluminium products price by more than 1%. With effect from Tuesday, 11 May 2021, aluminium billets price stands at INR 224,100 per tonne, representing a growth of 1.24% or INR 2,750 per tonne from INR 221,350 per tonne on May 8. Aluminium ingot and wire...
NALCO’s aluminium ingot price mounts to INR214,350-217,850/t as LME aluminium benchmark price surges
National Aluminium Company Limited (NALCO) has sharply increased its aluminium ingot and aluminium products prices with effect from Tuesday, May 11. NALCO’s aluminium ingot price has witnessed a surge of INR 7,500 per tonne to range between INR 214,350-217,850 per tonne. More than a week ago, on...
