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,...
India's ₹9,150b power grid push could drive new aluminium demand
India's planned transmission investment and renewable-energy expansion could lift aluminium consumption in electrical applications to 4 million tonnes by FY30. India's push to expand its electricity transmission network is emerging as a major potential growth driver for aluminium, with the...
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Nalco's Q3 results: Net profit spikes significantly, propelling growth
On February 13, 2024, National Aluminium Company Ltd announced a nearly twofold increase in consolidated profit, reaching INR 470.61 crore for the December 31, 2023 quarter. Nalco's filing to BSE marks a substantial rise of around 83.6 per cent (Y-o-Y) compared to the consolidated profit of INR...
Hindalco in 3QFY2024: Double-digit growth in net profit due to lower input costs & steady performance
On Tuesday, February 13, Hindalco Industries Limited announced a strong double-digit growth in net profit for the third quarter of FY2024 ended December 31, 2023. As per the report, the Aditya Birla Group Company’s consolidated net profit soared 71 per cent year-on-year to amount to INR 2,331...
Acciona Energía ventures into the Indian solar market with a new project
Acciona Energía has announced plans to construct a new 412 MWp photovoltaic project in Rajasthan, India, with an expected completion date set for 2025. Acciona, S.A. is a Spanish multinational conglomerate dedicated to developing and managing infrastructure and renewable energy. Acciona is a global...
MRAI 2024’s closing call: Final Day - Cross-border policies and standards in India's aluminium landscape
Day three of the 11th International Material Recycling Conference unfolded with a symphony of voices echoing the challenges and triumphs of the aluminium industry. Dhawal Shah, Sr Vice President of MRAI and Partner at Metco Ventures LLP, took centre stage, vividly painting India's rapidly growing...
JSW Group announces multi-billion-dollar investment in EV infrastructure
Indian multinational conglomerate JSW Group is poised to establish electric vehicle and battery manufacturing initiatives in Odisha, an eastern state, with an investment totalling around INR 400 billion (approx. $4.82 billion). The JSW Group The JSW Group, valued at US$ 23 billion, stands as one of...
L&T scores big in power distribution contracts
Larsen & Toubro Power Transmission and Distribution (PT&D) division recently secured numerous contracts. These projects encompass a variety of endeavours, including the development of a 75 MW floating solar PV facility on the Panchet Dam in the eastern Indian state of Jharkhand as well as the...
OEMs in the automobile sector record M-o-M growth in ADC12 aluminium ingot prices
Original equipment manufacturers (OEMs) in the automobile sector saw M-o-M surge in aluminium ADC12 alloy ingot prices, climbing by INR 6,000 per tonne to reach INR 204,000 per tonne, excluding GST, at the ex-works (exw) Delhi rate. Meanwhile, spot prices for ADC12 alloy ingots increased by INR...
Hindalco allies with Xynteo paving the way for sustainable growth in the Indian aluminium sector
Hindalco, the world's largest aluminium rolling and recycling company, is partnering with Xynteo to host 'The Exchange,' a two-day event in New Delhi. This collaboration is geared towards bringing together key stakeholders from various sectors to strategise solutions for India's goals of equitable...
Rising demand spurs growth in India's foundry industry across multiple sectors
In recent years, the Indian foundry industry has experienced consistent growth, buoyed by rising demand across multiple sectors, including automotive, engineering, energy, and infrastructure. Numerous foundries are embracing modernisation initiatives to enhance production efficiency and promote...
India’s imported aluminium scrap prices record W-o-W decline amidst falling futures
The Indian market for imported aluminium scrap has experienced a recent price decline, attributed to a drop in futures despite constrained material availability. Prices across all grades of aluminium scrap have notably decreased by as much as $140 per tonne on a week-over-week basis. As per...
Chinese economy indicates a slowdown for Asia-Pacific's metal exporters
The aftermath of Evergrande's collapse has sparked worries about China's property market, potentially leading to reduced demand for raw materials from the region's top metal producer and putting pressure on suppliers throughout the Asia-Pacific region. The Evergrande Group Evergrande Group,...
Aluminium alloy (ADC12) prices surge by INR7000/t W-o-W owing to increased imported tense scrap prices
During the week ending on February 2, 2024, base metals prices experienced a significant downturn on the London Metal Exchange (LME), with three-month aluminium futures dropping by 1.8 per cent to $2,233 per tonne, while nickel settled at $16,235 per tonne, marking a 3.3 per cent decrease....
“In the context of safety training, for instance, gamification can simulate hazardous scenarios, allowing employees to make decisions and respond to emergencies in a risk-free virtual environment,” Arijit Bhattacharyya, an entrepreneur, consultant, speaker, and mentor
Arijit Bhattacharyya is an accomplished entrepreneur, consultant, speaker, and mentor who has made a significant impact in the Global startup ecosystem related to finance and digital banking. Being an international record holder in technology and finance, he writes books on entrepreneurship and VC...
EKA Mobility sets the bar high with the launch of EKA K1.5, redefining sustainable commercial transport in India
EKA, a prominent player in the electric mobility sector, has officially unveiled its highly anticipated 1.5-tonne electric Light Commercial Vehicles (LCVs) in collaboration with Mitsui Co., Ltd. from Japan and VDL Groep from the Netherlands as equity partners. This groundbreaking vehicle is...
India’s aluminium alloy (ADC12) price grows W-o-W by INR7,000/t owing to increased raw material cost
Aluminium ADC12 alloy ingot spot prices for automobiles increased by INR 7,000 per tonne W-o-W, reaching INR 197,000 per tonne. This surge is primarily attributed to the rise in local and imported Tense scrap prices, per sources. The largest automobile manufacturer in India, which also sets the...
IIIT-Bhubaneswar signs MoU with BIS to standardise the Indian material supply chain
In a strategic move fostering collaboration among academia, industry, and government, IIIT Bhubaneswar inked a Memorandum of Understanding (MoU) with the Bureau of Indian Standards (BIS) on January 30 2024. This pivotal partnership aims to cultivate substantial growth and mutual development through...
MRAI's 11th IMRC 2024: Day 2 – Dialogues from the “Non-Ferrous Metals Demand & Outlook” session
Day two at MRAI's 11th IMRC 2024 Convention & Exposition in Kolkata was even more intriguing as the first half began with the "Circular Economy ZoneTheme Park" inauguration. This interactive playground promoted the cause of recycling used objects, and it was inspirational to see MRAI indulging...
India’s imported aluminium scrap market witnesses notable upswing owing to improved demand
The Indian market for imported aluminium scrap has experienced a significant upturn in prices, driven by a surge in futures, heightened demand, increased freight rates, and limited material availability in the western part of the country. Prices for all grades of aluminium scrap have witnessed a...
