Vedanta's ₹210b metals push targets India's EV and critical minerals demand
Vedanta is expanding aluminium, copper and other metals capacity as electric mobility and India's demand for critical minerals reshape the domestic materials market. Vedanta Group is putting INR 210 billion (USD 2.21 billion) into metals production and capacity through FY2026, building a broader...
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,...
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India’s aluminium scrap imports from US fall 22% M-o-M in Nov'20 after five consecutive months of growth
According to the latest data shown by the US Geological Survey, India’s aluminium scrap imports from the United States dropped in November 2020 after five consecutive months of growth during June-October 2020. Data shows India imported 30,300 tonnes of aluminium scrap from the United States in...
NALCO reduces its aluminium ingot price this week by INR1600/t
National Aluminium Company Limited has reduced its aluminium ingot and aluminium products prices this week, with effect from Friday, February 5. NALCO’s aluminium ingot price has thus come in at INR 167,650-171,150 per tonne, down by INR 1,600 per tonne from INR 169,250-172,750 per tonne on last...
Vedanta back-to-back raises its aluminium ingot price on February 5 & 6 in line with 3-month aluminium futures surge on LME
Vedanta Limited increased its aluminium ingot and aluminium products prices back-to-back on February 5 and 6, in line with LME aluminium price hike. On February 5, the company raised its aluminium ingot price by INR 1,500 per tonne from INR 165,500-178,500 per tonne to INR 167,000-180,000 per...
Vedanta Jharsuguda bags the ‘Best Exporter’ Award, presented by Govt of Odisha
India’s largest producer of aluminium and value-added products, Vedanta Aluminium’s Jharsuguda plant has bagged the ‘Best Exporter’ Award for the years 2017-18 & 2018-19 at the Odisha State Export Award. Directorate of Export Promotion & Marketing (DEPM), Odisha organized the event and the awards...
Vedanta cuts aluminium ingot price by 1.05% to INR165,500-178,500/t on February 3
Vedanta Limited decreased its aluminium ingot and aluminium products prices for the second time in a row with effect from Wednesday, February 3. The company is currently selling its aluminium ingot at INR 165,500-178,500 per tonne, down by INR 1,750 per tonne or 1.05 per cent from INR...
Aluminium die-casting auto components firm ‘Endurance Technologies’ kicks-off production at new plant in Tamil Nadu, India
On 2 nd February 2021, the leading auto components manufacturer, Endurance Technologies declared its commencement of commercial production at the Company's new plant situated at SIPCOT Industrial Park in Sriperumbudur, Tamil Nadu. The new plant will manufacture aluminium die-castings and carry out...
Hindalco reduces its aluminium wire rod and billets prices by INR1750/t with effect from February 3
Hindalco Industries Limited has further reduced its aluminium products and aluminium ingot prices, albeit slower than the previous time, with effect from Wednesday, February 3. The company reveals that it is now selling its aluminium wire rod price at INR 176,850 per tonne compared to 178,600 per...
Indian Aluminium Industry invested INR 4 lakh crore, expects Govt. to support the sector in 2021 budget: AAI President
Rahul Sharma, President, Aluminium Association of India and Deputy CEO of Vedanta Aluminium stated that the aluminium production cost has risen to more than double amid COVID-19 pandemic, whereas, LME prices are still improving from the April-June fall of $1,500 levels, the upcoming 2021 union...
Vedanta reports 35% higher consolidated net profit of INR 3,017 Cr. in Q3FY21; Net sales up by 6.4% YoY
Vedanta Limited, one of the world’s leading diversified natural resource companies, has reported consolidated net profit of INR 3,017 crore in the third quarter of FY2020-21 ending on December 31. The profit stood up by 35 per cent from the same period last year backed on higher revenues. Net sales...
Vedanta’s aluminium ingot & products prices down by INR2250/t after a hike this week
Vedanta Limited has reduced its aluminium ingot and aluminium products prices with effect from Friday, January 29, in line with sluggish LME aluminium benchmark price since January 27. Decreasing the aluminium ingot price by INR 2,250 per tonne, Vedanta is now selling it at INR 167,250-180,250 per...
NALCO elevates its aluminium ingot price by INR1400/t with effect from January 28
National Aluminium Company Limited (NALCO) has raised its aluminium ingot and aluminium products prices with effect from Thursday, January 28, after two consecutive weeks of decline. With the latest hike, NALCO’s aluminium ingot price has come in at INR 169,250-172,750 per tonne versus INR...
Hindalco Industries’ aluminium billets price dipped by 1.3% to INR 174,600/t
Hindalco Industries Limited has cut its aluminium products price by INR 2250 per tonne. With effect from Friday, 29 January 2021, wire rods price stands at INR 178,600 per tonne, a decrease of 1.24% from INR 180,850 per tonne on January 26. The company is selling its aluminium billets and aluminium...
NALCO announces INR 749 crore buyback plan at INR 57.50 per equity share
The board of National Aluminium Company Ltd (NALCO) has approved a buyback proposal worth INR 749.10 crore. The company plans to buy 13.02 crore shares at INR 57.50 per equity share for an aggregate not exceeding INR 749.10 crore. NALCO said in a BSE filing that ''the board of directors of the...
NALCO’s expansion project in Odisha is on course: Minister of Mines, India
Pralhad Joshi, the Indian Union Minister of Coal and Mines has reassured that the proposed preparation of the Detailed Project Report (DPR) of the brownfield expansion project of Nalco’s captive power plant (CPP) and smelter at Angul in Odisha is on track. In a recent letter to Dharmendra Pradhan,...
Union Budget 2021-22: Indian Aluminium Industry seeks hike in basic custom duty on primary aluminium and scrap
The Aluminium Association of India (AAI) has asked the government to hike the basic custom duty on aluminium in the forthcoming Union Budget 2021-22. The Industry has sought support to raise imports duty on primary aluminium and scrap to 10% from current 7.5% and 2.5% respectively. AAI said, "The...
Hindalco increases its aluminium ingot price to nearly INR170,000/t in line with LME aluminium price surge
Hindalco Industries Limited expanded its aluminium ingot and aluminium products prices for the second time in a row, with effect from Tuesday, January 26. Hindalco’s aluminium ingot price is currently standing at INR 169,750 per tonne, up by INR 2,250 per tonne from INR 167,500 per tonne on January...
Vedanta further raises aluminium ingot price by INR2,250/t in response to LME aluminium price hike over the weekend
Vedanta Limited has expanded its aluminium ingot and aluminium products prices for the second consecutive time, with effect from Tuesday, January 26. The company has raised its aluminium ingot price to INR 169,500-182,500 per tonne from INR 167,250-180,250 per tonne on January 21. This records an...
Electric vehicle sales to give a tough fight to gas guzzlers in India; Former to outperform by 2030: Mahindra & Mahindra
Mahindra & Mahindra Limited, one of the biggest automakers in India, projects electric-vehicle sales to outperform gas guzzlers as prices become more aligned and infrastructure and technology improve. The company expects this to happen with help from the Government. Mahindra Deputy Managing...
