Bosch SDS, Dassault Systèmes collaborate to advance AI-led manufacturing in India
Bosch Software and Digital Solutions (Bosch SDS) and Dassault Systèmes today announced a collaboration in India to help manufacturing enterprises accelerate digital transformation across product engineering, manufacturing operations and industrial value chains. The collaboration brings together...
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...
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India govt raises Customs duty on aluminium products from 7.5% to 10%
The Government of India yesterday proposed to raise the Basic Customs Duty (BCD) on aluminium products by 2.5 per cent, a move that will help curb influx of cheap aluminium imports. Basic Customs Duty is being increased for aluminium products from 7.5 per cent to 10 per cent, Finance Minister Arun...
IME 2016 concludes successfully in Kolkata
The recently ended 6th International Mining, Exploration, Mineral Processing Technology, Metals & Machinery Exhibition at the Eco Park, Rajarhat, Kolkata, was an apt business and networking platform for the Indian metal and mining sector which is struggling with a number of issues like a volatile...
Budget 2016 impact: India aluminium stocks gain on 2.5% import duty hike
Shares of Vedanta Ltd. and National Aluminium Company gained on Monday after Finance Minister Arun Jaitley increased imports duty on aluminium to 7.5 per cent from 5 per cent effective April 1, in a bid to save the industry from imports that have captured more than half the domestic market....
NALCO CMD TK Chand elected as the President of Aluminium Association of India
Dr. Tapan Kumar Chand, CMD of Navratna CPSE National Aluminium Company Limited (Nalco) has been unanimously elected as the President of Aluminium Association of India (AAI) in its National Governing Council Meeting, held in Bhubaneswar yesterday. AAI is the apex body representing the entire...
Aluminium futures inches up 0.14% on spot demand, global cues
Aluminium prices edged up 0.14 per cent to INR 108.34 per kg in futures trade today as participants enlarged positions, supported by strong demand in the spot markets and a better trend in the base metals pack at the London Metal Exchange (LME). Aluminium for delivery in March inched up 15 paise,...
Duty hike on aluminium to impact India's downstream industry
Stating that the production cost of aluminium in India rose even as it became static globally, the Economic Survey today said raising tariffs to check imports will impact downstream sectors like power and construction. Indian aluminum industry will continue to face difficulty unless world prices...
India parliamentary committee pitches for raising import duty on cheap aluminium scrap
In a bid to protect domestic firms, a Parliamentary Committee has suggested the government to raise import duty on aluminium and raised "serious concern" on "adverse impact" of cheaper imports on the profitability of state-run Nalco . The Committee on Public Enterprises, chaired by Shanta Kumar,...
Vedanta, Hindalco to continue with cost rationalization
India’s top two aluminium manufacturers - Vedanta Ltd and Hindalco Industries Ltd - are planning further cost cuts in the face of rising cheap imports from China and drop in price realizations - a situation that the steel sector too has been facing. More than half of the domestic demand for...
Hospitality and food packaging industry boom driving demand for aluminium foil
Food packaging industry is booming because of the requirement of food-on-the-go. The global packaging industry is expected to grow to $820 billion by 2016. The Indian packaging industry, growing at roughly15% annually, is estimated to become the fourth-largest in the world, with revenues of $43.7...
India aluminium scrap prices remain stable; Norsk Hydro forecasts weaken aluminium futures
India major aluminium scrap commodities prices remained stable on Tuesday, February 23, while aluminium futures prices at Multi Commodity Exchange weakened after Norsk Hydro cuts aluminium demand growth forecasts. The major aluminium scrap commodities stayed stable on Scrap Register Price Index as...
Downward pressure on Indian aluminium prices to continue: CRISIL
Non-ferrous metal prices plummeted in 2015 due to global slowdown and massive overcapacity, especially in China. Tailing these global trends, aluminium prices in India are estimated to decline by 15-17 per cent in the current fiscal. Consequently, the operating margin of aluminium sector is...
Indian aluminium industry smarts from inverted duty structure
The inverted duty structure in the aluminium sector has compounded the woes of the domestic industry, which is reeling under the impact of increased import of the metal from China and West Asia. As a result of this structure, manufacturers face a price disadvantage in the domestic market vis-à-vis...
PGCIL arm to set up aluminium conductor unit in Odisha
Grid Conductors Ltd, a 100 per cent subsidiary of Power Grid Corporation of India Ltd (PGCIL), has proposed to establish an aluminium and aluminium alloy conductor unit in Odisha, committing an investment of INR 127.35 crore. The aluminium conductor unit would come up at the aluminium downstream...
India major aluminium scrap and futures prices soar on improved market sentiment
India major aluminium scrap commodities prices soared on Monday, while aluminium futures prices at Multi Commodity Exchange advanced by 1.2 per cent mainly on improved market sentiment due to anticipation for a turnaround in aluminium consumption after the week-long holiday. The major aluminium...
China's bauxite imports surge 105% y-o-y in Jan 2016
China's appetite for bauxite is growing bigger by the day. According to the data released by the General Administration of Customs on February 22, China imported 5,302,809 mt of the aluminium ore in January, up 105 per cent from the corresponding period previous year. Malaysia ranked first among...
Aluminium regains ground on MCX, Mumbai
Aluminium prices surged 4 per cent last week, with the spot price on the London Metal Exchange (LME) closing on a stronger note at $1,562 per tonne on Friday. This is just above an important resistance at $1,560. The metal is up about 10 per cent from its low of $1,423 made in November 2015....
Aluminium futures rise on global cues, spot demand
Taking positive cues from global market and strong demand at domestic spot markets, aluminium prices edged up 0.52 per cent to INR 105.80 per kg in futures trade today as participants enlarged positions. Marketmen said increased domestic demand and a firming global trend where base metals gained...
Indian aluminium product manufacturers post mixed results for quarter ended Dec '15
Hind Aluminium posted a net profit while ESS SEE Aluminium and Manaksia Aluminium reported a loss for the quarter ended December 2015. Hind Aluminium Industries has reported a standalone total income from operations of INR 145.67 crore and a net profit of INR 2.52 crore for the quarter ended...
