US industrial policy needs to be systematic, not just ad hoc – Part 2
Our current approach can win economic skirmishes, but not the geopolitical conflict. – Part 2 Impact #5 of ad hoc industrial policy: Failing to use all required tools Industrial policy is often caricatured as just tariffs and subsidies. Mis-framed debates that evaluate the merits of tariffs in...
US industrial policy needs to be systematic, not just ad hoc – Part 1
Our current approach can win economic skirmishes, but not the geopolitical conflict. – Part 1 After decades during which the very concept was taboo and the reality swept under the rug, the US has now rediscovered industrial policy. But this rediscovery remains incomplete, as too much of it is...
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Aluminium rises by 0.4% on rising demand
Aluminium prices were up by 0.39% to INR 103.20 per kg in futures trade as traders enlarged positions, driven by pick up in demand at the spot market amid firm global trend. At the Multi Commodity Exchange, aluminium for delivery in March month moved up by 40 paise, or 0.39% to INR 103.20 per kg in...
Automotive demand growth for metals likely to slow down
After news of Toyota’s recent supply chain troubles, so ably covered by my colleague Lisa Reisman last week, news from the US car industry, by contrast, couldn’t be better. General Motors reported $9.7 billion net income for 2015 as it was bolstered by buoyant US light-truck sales. Results for the...
Rusal eyes further aluminium production cuts
Russian aluminium producer Rusal said it is considering further production cuts and won’t restart idled smelters, as prices for the lightweight metal trade close to their lowest levels since 2009. The company, controlled by Oleg Deripaska, said it would consider cuts of around 200,000 tonnes per...
MCX aluminium up by 0.1% on spot demand
Aluminium prices were up by 0.10 per cent to INR 101.30 per kg in futures trading as traders created fresh positions after pick up in demand at the spot market. At Multi Commodity Exchange, aluminium for delivery in February inched up by 10 paise, or 0.10%, to INR 101.30 per kg, in a business...
MCX aluminium up by 0.5% on global cues
Aluminium prices inched up by 0.54 per cent to INR 103.10 per kg in the futures trade today as participants built up fresh positions, tracking a firm trend overseas. Furthermore, strong demand in the spot markets supported the upside. At the Multi Commodity Exchange, aluminium for delivery in...
Fresh selling seen in aluminium, open interest up by 12.75%
Aluminium settled down -2.06% at 102.3 as investors squared positions ahead of the Lunar New Year holiday in China. Financial speculators in metal such as hedge funds have been strongly bearish on the market since early November, amid signs of weakening economic growth around the world. The U.S....
Global high purity aluminium production market to grow at 2.93% from 2016 to 2021
According to a recently published market research report, global high purity aluminium production market was 149K million tonnes (mt) in 2015 and is expected to grow at a CAGR of 2.93% from 2016 to 2021. High purity aluminium mainly covers product types- 4N High Purity Aluminium, 4N5 High Purity...
No relief in sight yet for Indian aluminium makers
Government of India has provided relief to the domestic steel manufacturers hit by cheap imports and the global slowdown in commodity price by imposing a minimum import price ranging from $341 to $752 a tonne on 173 steel products. But, the global slowdown has left the aluminium industry still...
Aluminium MMI: Alcoa stock plunges to a 7-year low
Although other base metals made new lows in January, aluminium prices held steady. The aluminium MMI fell only one point to 71. What didn’t fare well in January was Alcoa‘s stock price, which fell sharply to its lowest level since March 2009. Lower aluminium prices where the main cause driving the...
Hindalco Industries Ltd hits 52-week low
The stock of Hindalco Industries Ltd hit a new 52-week low and has INR 63.37 target or 5.00 per cent below today’s INR 66.70 share price. The 9 months bearish chart indicates high risk for the INR 143.28 billion company. The 1-year low was reported on February 4. If the INR 63.37 price target is...
Nalco sets all-weather business model to face global slowdown
In view of the slump in the world aluminium market, the National Aluminium Company (Nalco) has developed an all-weather business model to maintain profitability. "Given the tough going in the market, Nalco, a leading foreign exchange earner for the country amongst the central public sector...
Japan aluminium imports down 14% - lowest since 2009
Japan's demand for imported aluminium plummeted to a six-year low in 2015 weighed upon by record-high stocks in the domestic market. The country imported 1.46 million tonnes of primary aluminum in 2015, down 14 per cent from corresponding period previous year, showed data from Japan's Ministry of...
Fresh buying seen in aluminium, open interest up by 3.75%
Aluminium settled up 0.34% at 104.20 recovered from the day's low despite China's manufacturing growth shrank at the fastest pace in more than three years in January, underlining slowing appetite from the world's top user of metals. Activity in China's manufacturing sector contracted at its fastest...
Aluminium demand stable in North America despite the volatile market
Preliminary estimates indicate that aluminum demand in the United States and Canada (shipments by domestic producers plus imports) totaled an estimated 23,798 million pounds through November 2015, up nine-tenths of one percent over the same period last year. Demand for semi-fabricated (mill)...
Upbeat Nalco plans to invest INR 30,000 crore for growth in next 5 years
Upbeat about a rise in aluminium consumption in India, Navaratna PSU Nalco is all set to invest INR 30,000 crore in various projects in the next five years. “Nalco plans to invest to the tune of INR 30,000 crore in the next five years,” Nalco’s CMD Tapan Kumar Chand said in his Republic Day...
Aluminium falls by 0.4% on global cues
Aluminium prices fell 0.38% to INR 103.90 per kg in futures trading today, taking weak cues from global markets. Further, subdued demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange, aluminium for delivery in current month shed 40 paise, or 0.38%,...
Market downturn to hit Nalco profit despite high production
National Aluminium Company (Nalco) chairman and managing director TK Chand on Tuesday said that the company’s profitability would remain depressed during the current fiscal despite achievement of higher production. Chand said that the company is set to close the fiscal 2015-16 with a bauxite...
MCX aluminium up by 1.2% on global cues
Buoyed by firming trend overseas and rising spot demand, aluminium futures rose by 1.24% to INR 101.75 per kg today as traders created fresh positions. At the Multi Commodity Exchange, aluminium for delivery this month moved up by INR 1.25 or 1.24% to INR 101.75 per kg in a business turnover of 554...
