$11.5b Adani-IRH aluminium project set to strengthen Odisha’s aluminium value chain
Odisha has handed over more than 7,000 acres of land for the Adani Group-International Resources Holding (IRH) joint venture’s proposed USD 11.5 billion integrated aluminium complex. This covers planned alumina refining, aluminium smelting and downstream manufacturing facilities across Sundargarh...
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...
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Orissa Chief Minister opposes Nalco disinvestment move
Chief Minister Naveen Patnaik has opposed the central government's plan to offload 10 per cent stake in navratna firm National Aluminium Company (Nalco). "Nalco is a very profit making PSU. I don't think disinvestment should happen there," Patnaik said in his reaction to the Centre's proposal to...
S.Korea PPS pays sharply lower aluminium premiums as collapse accelerates
South Korea's Public Procurement Service (PPS) paid a premium of $223 per tonne in its latest aluminium tender, almost a third less than a month ago, highlighting an accelerating collapse in global premiums as supply swells. PPS's purchase of 2,000 tonnes of Australian aluminium for shipment by...
Automotive piston market to grow six percent as aluminum dominates
Automotive pistons are in demand as vehicle production climbs, but the trend is not without its challenges as a there is a growing shift in popularity to electric cars and smaller engines with fewer cylinders per vehicle. Newer technology can leave engines like this inline 6-cylinder design in the...
Ess Dee Aluminium zooms over 100% in six days
Shares of Ess Dee Aluminium have moved higher by 7% to INR 252, extending its past five day’s rally on the bourses, despite clarification by the company that the rise of its share price is unexpected and unwarranted. In past six trading sessions, the stock zoomed 105% from INR 123 on March 31, on...
Hindalco falls as aluminum giant Alcoa misses estimates
Shares of Hindalco Industries slipped nearly 2 per cent to hit intraday low of INR 137.35 after global aluminum giant Alcoa Inc's first quarter earnings missed expectations. Alcoa's earnings missed estimates. However, the commentary for auto continues to remain positive as it expects global...
Vedanta reports record production for the fourth quarter and full year 2015
Vedanta Resources plc releases production report for the Fourth Quarter and Full Year ending 31 March 2015. In the aluminium segment, Vedanta reports record quarterly and full year Aluminium production with the new Jharsuguda-II and Korba-II smelters ramping up successfully. The company also...
Indian regulation requires recording video of scrap shipments
The Mumbai-based Metal Recycling Association of India (MRAI) is conducting meetings in an effort to stave off a regulation that requires overseas scrap shippers to record videos of their container loading process. MRAI Secretary General Amar Singh, in an April 7, 2015, memo to member companies,...
Aluminium slides on global cues
Prices of aluminium declined by INR 2 per kg at the non-ferrous metals market today largely on weak global trend. Traders said sentiments in aluminium turned weak as it declined to a three-week low in global markets after the biggest US producer flipped its outlook for the metal to an oversupply...
Two new aluminium-intensive Suzukis to hit the Indian market soon
Close on the heels of launching the country’s cheapest fully faired motorcycle, the Gixxer SF, Suzuki has announced that two new liter class bikes will be introduced to Indian motorcyclists this year. Building on the popularity of the Hayabusa and the Intruder would be the GSX-S1000 naked and the...
Indian Government proposes 2-stage bidding process under Mines Bill
The Centre today proposed a two-stage bidding process to the states for auctioning major minerals like bauxite ore, with the highest revenue share offered in the first round becoming the base price for e-auction. In the first round, technically qualified bidders will be asked to quote the...
Prime Minister seeks intervention from Odisha CM to grant the Pottangi bauxite mine
Nalco’s deteriorating condition has caught the attention of India’s Prime Minister, Mr. Narendra Modi, who has sent a letter to the Chief Minister of Odisha, urging him to intervene to improve the company’s situation. Difficulty of viable bauxite procurement has been one of the biggest complaints...
Aluminium gains by 0.4% on global cues
Aluminium prices gained 0.41% to INR 111.55 per kg in futures trade as speculators enlarged positions amid positive cues from global markets. Besides, increased demand at domestic spot markets influenced prices. At the Multi Commodity Exchange, aluminium for delivery in April rose by 45 paise, or...
Nalco owes highest mining dues to the government: CAG report
The Comptroller and Auditor General of India has accused the Odisha state government of being too lax in their collection of revenue using modes like VAT, Entry Tax, Excise Duty and Mining Receipts causing an estimated loss of INR 4,713.63 crore for FY 2013-14. The mining dues alone are said to...
NALCO inks MoU with ministry for higher production & financial targets
National Aluminium Company Limited (NALCO) has signed an MoU with the Ministry of Mines, Govt. of India regarding financial and non-financial targets for the FY 2015-16. The MoU was signed between Dr. Anup K Pujari, IAS, Secretary, Ministry of Mines and Shri Ansuman Das, CMD, NALCO, in the presence...
Rexam jumps on 'fantastic' opportunity for beverage cans in India
The beverage can remains a ‘novel’ form of packaging in India, according to manufacturer Rexam. But having seen a 72% increase in sales volume in 2014, the company predicts the packaging will become much more popular. The beverage can currently represents just 1% of the Indian beverage packaging...
Nalco achieves record gross turnover
National Aluminium Company Ltd (Nalco) has achieved its highest ever gross turnover of INR 7774 crore (provisional) in 2014-15 against INR 7024 crore in 2013-14 and previous best of INR 7247 crore in 2012-13. Export earning has been INR 3307 crore in 2014-15 against INR 3719 crore earned last year....
BIR releases Non-Ferrous World Mirror-March 2015
The Bureau of International Recycling (BIR) has released the Non-Ferrous World Mirror for the month of March this year. India reduced the Special Additional Duty on imports of copper , brass and aluminium from 4% to 2%. The announcement was made during the budget presented in Parliament recently....
India containerized Shredded Scrap import prices up; Aluminium scrap prices remain flat
Indian containerized shredded scrap import prices advanced during last week, while Indian aluminium scrap prices remained flat. According to The Steel Index, containerized shredded scrap prices for Indian imports rose by $4 last week to $290 a ton CFR Nhava Sheva. The modest price rise can be...
