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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US imposes anti-dumping duties on aluminium alloy sheets from 18 countries
On 9 th October’20, the US Department of Commerce announced that it would impose preliminary anti-dumping duties "immediately" on imports of aluminium alloy sheets from 18 countries, which includes Germany, Bahrain, Brazil, Spain, India and Italy. Wilbur Ross, US Secretary of Commerce, said: “In...
Hindalco hikes aluminium products price by INR 2,250/t
Hindalco Industries Limited has hikes the aluminium products price for the third time in a row. With effect from Friday, 09 October 2020, the company’s wire rods price has risen to stand at INR 162,100 per tonne, an increase of INR 2,250 per tonne from INR 159,850 per tonne on October 7. Aluminium...
NALCO’s aluminium ingots price drops by INR 1,600/t to INR 147,450 – 150,950/t
National Aluminium Company Limited (NALCO) has reduced its aluminium products price today. With effect from Tuesday, 6 October 2020, NALCO's aluminium ingots price came in at INR 147,450 – 150,950 per tonne, a drop of INR 1,600 per tonne from INR 149,050 – 152,550 per tonne on September 30. The...
Vedanta’s Cost of Production declines in June quarter in tandem with lower output, alumina CoP drops by $54/t Q-o-Q
The downfall in Vedanta's production in the first quarter of fiscal 2021 has resulted in a lower production cost (CoP) from $1,764 per tonne during the same period last year to $1,268 per tonne. According to the latest report, Vedanta's alumina production cost dropped by $54 per tonne from the...
Vedanta appoints Gerli Metalli SPA as service partner for Italian market onward 2021
Vedanta, the largest primary aluminium producer of India, has appointed century-old non-ferrous metals, ferroalloys and pig iron trading company Gerli Metalli SPA as a service partner onwards 2021 for the Italian market. Vedanta with its two state-of-art aluminium smelters at Jharsuguda (Odisha)...
Hindalco’s aluminium products price rises by INR 1,250/t with effect from October 7
Hindalco Industries Limited has raised the aluminium products price for the second time in a row. With effect from Wednesday, 07 October 2020, the company’s wire rods price has increased to stand at INR 159,850 per tonne, an increase of INR 1,250 per tonne from INR 158,600 per tonne on October 6....
Hindalco hikes its aluminium products price by INR 1,750/t with effect from October 6
Hindalco Industries Limited has hiked its aluminium products price today after cutting it on October 2. With effect from Tuesday, 06 October 2020, the company’s wire rods price has increased to stand at INR 158,600 per tonne, an increase of INR 1,750 per tonne from INR 156,850 per tonne on October...
Vedanta’s aluminium ingot price grows by INR 2,000/t with effect from October 6
Vedanta has raised its aluminium ingot price after declining the price of the same product on October 2. With effect from Tuesday, 06 October 2020, the prices of some aluminium ingots are in the range of INR 145,500-158,500 per tonne, registering a growth of INR 2,000 per tonne from INR...
Vedanta Limited sees a downfall of 23.5% in its quarterly profit ended on June 30
Vedanta Limited announced that it saw a downfall of 23.5 per cent in its quarterly profit ended on June 30, attributing to lower production and demand amid the world’s strictest lockdown due to the COVID-19 pandemic. Billionaire Anil Agarwal’s group’s net income slumped to INR 1,033 crore ($141...
Midhani gets land clearance to set up Aluminium plant for Indian defence unit in Andhra Pradesh
The District Administration of Nellore in Andhra Pradesh, the south-eastern coastal state of India, has eventually cleared the land issues for Aluminium Plant for defence unit, which was proposed by Mishra Dhatu Nigam Limited (MIDHANI). The proposed land has been at Bodduvaripalem, district Nellore...
Hindalco cuts its aluminium product prices by INR1250/t w.e.f. October 2 in line with dwindling LME prices
Hindalco Industries Limited has reduced the price of its aluminium ingots and aluminium products with effect from Friday, October 2, following a hike on Tuesday, September 29. Hindalco’s aluminium ingot price has come in at INR 145,750 per tonne, down by INR 1,250 per tonne from INR 147,000 per...
Vedanta’s aluminium ingot price declines by INR 2,250/t with effect from October 2
Vedanta has reduced its aluminium ingot price today after hiking the price of the same products by INR 1,500 per tonne on September 29. With effect from Friday, 02 October 2020, the prices of some aluminium ingots are in the range of INR 143,500-156,500 per tonne, marking a decline of INR 2,250 per...
NALCO’s aluminium ingots price climbs to stand at INR 149,050 – 152,550/t
National Aluminium Company Limited (NALCO) has raised its aluminium products price after declining it for the second time in a row. With effect from Wednesday, 30 September 2020, NALCO's aluminium ingots price stood at INR 149,050 – 152,550 per tonne, marking a growth of INR 3,800 from INR...
Vedanta Aluminium smelter expansion, Odisha High Court issued stay order on the public hearing
The Indian Aluminium giant Vedanta Aluminium Ltd’s proposal to expand its aluminium smelter plant in Odisha’s Jharsuguda district saw multiple twists and turns on 29 th -30 th September’20. Notwithstanding, the final decision has been deferred until 5 th October, while Vedanta being permitted to...
Hindalco hikes its aluminium products price by INR 1,500/t with effect from September 29
Hindalco Industries Limited has raised aluminium products price after declining it for the second time in a row. With effect from Tuesday, 29 September 2020, the company’s wire rods price has come in at INR 158,100 per tonne. That is up by INR 1,500 per tonne from INR 156,600 per tonne on September...
India’s aluminium scrap imports from US continue to grow by 70% in July 2020
According to the latest data shared by the US Geological Survey, India imported 21,700 tonnes of aluminium scrap from the United States in July 2020 versus 12,800 tonnes in June. This means India secured 8,900 tonnes or 69.53 per cent more scrap in July than the previous month. The USGS data found...
Vedanta chief Anil Agarwal seeks $5 billion for turnaround fund
The founder and Chairman of Vedanta Resources Limited, Anil Agarwal is seeking leastwise $5 billion for a fund earmarking companies being sold off by Government of India, as per industry professionals. This is a practised strategy, marking a return that made him wealthy. Mr Agarwal is intending an...
Vedanta increases its aluminium ingot and product prices by INR1500/t after two consecutive declines
Vedanta Limited has increased its aluminium ingot and aluminium product prices with effect from Tuesday, September 29, following two consecutive declines on September 18 and 24. Vedanta is now selling its aluminium ingot at INR 145,750-158,750 per tonne, up by INR 1,500 per tonne or 1 per cent from...
