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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India’s import of aluminium wire shows a rising trend in last two years
<p>Aluminium imports account for more than 40% of annual domestic consumption of four million tonnes. It includes both primary (ingots, billets and wire rods) and downstream aluminium products (tubes, wires and cables). Wires form a large portion of the total aluminium product import by India...
SCL to invest in an aluminium die-casting plant at South Carolina
<p>An Indian manufacturing company is planning to invest about USD 50 million to build a facility in South Carolina that will create over one hundred new jobs. This will be the first American unit of Sundaram-Clayton Limited (SCL) spread across 50 acres of land in the Ridgeville Industrial...
Wheels India's Q3 net profit more than doubles; forged aluminium wheels segment on track
<p>TVS Group promoted India's largest auto component manufacturer Wheels India Limited has posted net profits at INR13.21 crore for the third quarter ended December 31, 2016, up 120.9 per cent from INR5.98 crore of the corresponding period last year. The company with a robust portfolio featuring...
HTC launches its aluminium built smartphone in India
<p>Taiwan-based smartphone maker HTC has launched HTC 10 Evo crafted from aluminium in the Indian market. HTC claims the handset is the company’s first metal body smartphone with IP57 certification, meaning dust proof features.<br /><br /><img style="vertical-align: middle; display: block;...
India aluminium scrap prices hold steady on the Index; Govt to push for vehicle scrap policy
<p>India aluminium scrap prices remained fairly stable on Wednesday, February 8, while aluminium futures prices edged higher at Mumbai's Multi Commodity Exchange, reported Scrap Register. Aluminium futures gained on the back of ongoing scanning of smelters by the government agencies in China which...
Government mulls “further steps” for survival of aluminium industry
<p>Indian government said yesterday that the centre is considering taking further actions in order to protect the interests of the domestic aluminium industry without affecting the interests of downstream industries.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto;...
India on the fast-track of development: To import US$115.5 mln worth aluminium bar rods in 2017
<p>The global market for aluminium bar rods and profiles is projected to grow at 5.7 per cent CAGR from 2016 till 2020, reveals data in a recently published market research report. During 2009-2015, the market grew at a CAGR of 7.4 per cent with aluminium alloy profiles accounting for 96 per cent...
Asus Zenfone 3s Max with aluminium metal body launched in India
<p>The noted Taiwanese mobile phone manufacturer Asus has launched Zenfone 3s Max (ZC521TL) featuring a suave aluminium metal body in India today. The smartphone which was unveiled earlier in India at an exclusive event with a real-time tear down demo sports bumped up specs from the Zenfone 3...
Nalco, NINL ink MoU to establish coal tar pitch plant in Odisha
<p>India's Navaratna public sector undertaking National Aluminium Company Ltd (Nalco) has signed a Memorandum of Undertaking (MoU) with Neelachal Inspat Nigam Limited (NINL) for establishing a joint-venture coal tar pitch producing company. The move is in line with the State owned aluminium major's...
India considering measures to combat cheap aluminium imports
<p>Piyush Goyal, Power, Coal and Mines Minister of India said at an industry event on Friday, February 3, that the government is considering taking measures on imposing of anti-dumping duties or minimum import price to combat rising imports of downstream aluminium products in India.</p> <p><img...
UPDATE: India Budget 2017 - Excise duty on aluminium ores & other concentrates raised from zero to 30%
<p>Indian government has raised excise duty on bauxite to 30 per cent in yesterday’s Union Budget 2017-2018. Prior to this, there was no duty on the aluminium ore produced for sale (inland). Now, aluminium producers have to pay a duty of 30 per cent for selling the mineral ore in the domestic...
India Budget 2017: What does it mean for the aluminium industry?
<p>When Arun Jaitley, India’s Finance Minister rises to present the Budget for 2017-2018 today, February 1, he faces almost the same challenge for the third time: to convince the country that the Budget would propel the economy towards the much awaited “better days” his government...
MCX Aluminium futures edge up 0.12% as demand picks up
<p>Aluminium prices were up by 0.12 per cent to INR 122.35 per kg in futures trading today on India's prime commodity exchange as speculators built up fresh positions amid uptick in demand in the spot market. <br /><br />At Mumbai's Multi Commodity Exchange, aluminium for delivery in current month...
Aluminium futures on MCX slide 0.28% on muted demand
<p>Aluminium prices softened by 0.28 per cent to INR 123.75 per kg in futures trade today as speculators reduced exposure in view of ending monthly expiry amid easing demand in the spot market.</p> <p>At the Multi Commodity Exchange, aluminium for delivery in January declined by 35 paise, or 0.28...
Indian Foundry sector urges for duty-free raw materials and technology upgradation fund
<p>Indian foundry industry acts as an ancillary industry to the manufacturing sector as it supports auto, auto components, railways, electric, cement etc. It also acts as a downstream industry for the metal industries like steel, iron and aluminium. The Indian foundry industry is third largest...
Upcoming budget expected to trigger metal stocks including aluminium
<p>The last week has been marked by a quick gain in all the major indices (SENSEX & NIFTY) and Nifty Metal index outperforming the major indices by a good margin, recording gains of 6%.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
Downstream aluminium industry appeals to government over MIP on aluminium
<p>The Aluminium Secondary Manufacturers Association (ASMA) has requested the Finance Minister and Commerce Minister to “stop Injustice against 3500 Aluminium MSME” over government’s decision for imposing a minimum import price (MIP) on aluminium through an open letter in the...
Nalco, MIDHANI in talks to produce auto-grade aluminium
<p>State-owned aluminium maker National Aluminium Company (Nalco) and Indian Defence Ministry’s Mishra Dhatu Nigam Ltd (MIDHANI) are in talks to produce auto-grade aluminium and high-end value added products.</p> <p><img style="vertical-align: middle;"...
