Adani-IHC expand Odisha investment plans to $25bn across 14 projects
Abu Dhabi-based International Holding Company (IHC) and India’s Adani Group have expanded their investment plans in Odisha, outlining INR 2.105 trillion (USD 25 billion) of potential investment across 14 projects spanning metals, critical minerals, energy, chemicals and infrastructure. The...
Odisha CM visits EGA Jebel Ali, highlights NALCO–EGA aluminium partnership
Odisha Chief Minister Mohan Charan Majhi visited Emirates Global Aluminium’s (EGA) Jebel Ali site in Dubai, highlighting the strategic importance of the NALCO–EGA technology licensing partnership in strengthening Odisha’s aluminium industry. During the visit, Majhi emphasised how the collaboration...
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Indian operators to restart CAL bauxite mining project: Sources said
As confirmed by some trusted sources, Indian operators are going to relaunch the long-awaited Cameroon Alumina Limited’s (CAL) bauxite mining project. It’s been over years now this plan was proposed to set up a Greenfield project involving bauxite mining, a 3 million-tonnes-per-annum alumina...
Aluminium stranded wire imports by Saudi Arabia doubled in 2017
Saudi Arabia imported US$126.8 billion worth of goods from around the world in 2017. The country’s imports of aluminium stranded wire increased in 2017. Saudi Arabia imported about 48108 tonnes of this product in 2017, an increase of 108 per cent YoY. Saudi Arabia’s imports of aluminium stranded...
UPDATE: Top Five Aluminium Producing Countries in the World
The global demand for aluminium picked up in the first three months of 2018. RUSAL estimated that global aluminium demand increased by 6% in 2017 to 64 million tonnes amid coordinated economic growth in major regions of the world, while robust demand growth left the global aluminium market in a...
Vedanta & Nalco set sights on trimming aluminium production cost after robust FY17 earnings
The two top aluminium producers Vedanta Ltd. and National Aluminium Company Ltd. (Nalco) are wary about the rise in production costs, even after posting robust earnings from aluminium business in the financial year 2017 ended on 31 st of March, 2018. Vedanta’s cost of aluminium production escalated...
India’s Commerce and Industry Minister to meet USTR next month to sort out tariffs issue
As a development on the tariff issues between the US and India, both the countries will hold high-level bilateral talks between June 10 and 14. The talk is designed to elaborate on and find out a suitable solution for the steel and aluminium tariffs imposed by Trump administration. Commerce and...
India and EU plan to increase import duties on US products
India and the European Union have told the World Trade Organization that they have planned to raise import duties on certain US products next month. The move is in retaliation to Donald Trump’s decision to impose tariff on aluminium and steel. Trump’s import duty has affected India’s aluminium...
Indian aluminium industry wants quantitative curbs on imports
Aluminium-producing companies have moved the government to impose quantitative restrictions on imports as their demand to levy anti-dumping duty on cheap imports has not materialised for the last two years. Imports account for 54 per cent of total aluminium consumption in India, up from 52 per cent...
Hindalco’s FY2018 EBITDA up 11% YoY on higher aluminium and copper volumes
Hindalco Industries Ltd, a producer of aluminium and copper products, posted 25 per cent decrease in profit in the fourth quarter ended March 31.The company's profit stood at INR 377 crore, from INR 503 crore a year earlier. Revenue stood at INR 11,681 crore in the three months through March 31....
Manaksia Aluminium reports net loss of INR 12.4 million for the year ended 3lst March, 2018
Manaksia Aluminium Company Limited has released the financial results of for the year ended 3lst March, 2018. March quarter net loss stood at INR 5.9 million rupees in comparison with the total profit of INR 5.8 million a year ago. March quarter revenue from operations stood at INR 473.4 million in...
Nalco works towards achieving revenue of INR 93.5 billion from operations in FY19
National Aluminium Company (Nalco), a navratna firm under Union Mines of Ministry, sets a goal to achieve revenue of INR 93.5 billion from operations in FY19, 15 per cent higher than the previous financial year. The company’s chairman and managing director Tapan K Chand has signed off on a...
Solomon Islands bauxite export grows about 139% YoY in 2017
Solomon Islands’ export of bauxite represents 93 per cent of the total exports of the country. The country exports bauxite mainly to China and India. China is the largest bauxite market for the country. Solomon Islands exported 174,189 tonnes of bauxite to China in March 2018, up 75 per cent from...
US aluminium scrap exports up 9% YoY in Q1 2018
According to latest figures from the US Census Bureau and US International Trade Commission, aluminium scrap exports by the U.S. rose in the first three months of this year. Total exports by the U.S. stood at 386, 910 tonnes in Q1 2018, up 9 per cent from the same period previous year. U.S. exports...
Vedanta reports 22% YoY revenue growth for FY 2018 on account of the capacity boost at Aluminium
Mining conglomerate Vedanta Ltd. has announced its unaudited consolidated results for the fourth quarter of the financial year 2017-18, as well as the full financial year ended March 31, 2018. According to the results, the company has witnessed 22 per cent increase in year-on-year revenue closing...
India’s safeguard duty on imported solar cells draws criticism from EU and Japan
India’s decision to impose safeguard duty on imported solar cells drew criticism both from the European Union and Japan on Monday, April 23, 2018, at the World Trade Organisation. The European Union representative slammed India for its casual analysis. According to the former, the injury analysis...
Aluminium price hike may affect Indian automotive industry’s profitability: ICRA estimates
The Indian rating agency ICRA estimates that the sudden surge in aluminium price by 30 per cent over the last two weeks owing to US sanctions against Rusal may impact the Indian automotive industry’s profitability and also the profitability of auto component suppliers as well as OEMs in the near...
US refuses to discuss aluminium and steel tariffs with India under “Safeguards Agreement”
With the US refusing to roll back its imported aluminium and steel tariffs from India, the latter dragged the matter to the World Trade Organisation (WTO) on April 17, 2018, requesting to consult with the United States over the tariffs and compensation for losses. Like China and European Union,...
Acer unveils Avengers inspired new editions aluminium laptops in India
Inspired by the most marvel cinematic universe’s film Avengers, Taiwan-based computer hardware manufacturer Acer has unveiled three limited-editions laptops made from aluminium. The series includes the Aspire 6 Captain America Edition, the Nitro 5 Thanos Edition, and the Swift 3 Iron Man Edition....
Odisha to roll out integrated coach factory for aluminium-bodied train by 2020
News on aluminium-bodied train sets ‘Train 20’ is strolling on the internet since long while apprising us with all the latest updates that the train sets, estimated to cost INR 2,500 crore would start rolling out of the Railways’ Integrated Coach Factory (ICF) near Chennai by 2020, followed by...
