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...
US-Canada trade conflict widens as Canada hits US aluminium imports with 50% tariffs
Canada's retaliatory tariffs on US goods, including aluminium and steel products, take effect as Washington intensifies pressure on Canadian industry. Canada is escalating its trade confrontation with the United States, imposing tariffs of up to 50 per cent on US imports worth CAD 27.6 billion (USD...
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Indian aluminium firms await respite
Indian steel companies have seen their fortunes swing back after implementation of the minimum import price but aluminium majors await similar triggers. The recommendation of the Directorate General of Safeguards for a provisional safeguard duty of five per cent ad valorem for 200 days had lifted...
What deters many Chinese aluminium smelters from restarting capacity? - SMM explains
Profit at Chinese aluminium smelters has been expanding steadily thanks to sustainable aluminium price rise. However, many smelters have not shown strong interest in bringing idled capacity back online. Why? The main reason is negotiations with power plants over preferential power tariffs are still...
India defers provisional safeguard duty on unwrought aluminium imports
Under criticism over its protectionist measures for the domestic steel industry, India has deferred the 5 per cent provisional safeguard duty on imports of unwrought aluminium. Unwrought aluminium is extracted from primary metal or scrap and is imported by India from various countries such as the...
Aluminium Association of Canada welcomes USW's withdrawal of petition demanding tariff on U.S. imports
The Aluminium Association of Canada (AAC), consisting of Alcoa, Alouette and Rio Tinto, is thrilled with the decision of the United Steelworkers (USW) to withdraw its petition for the imposition of a 50 per cent tariff on aluminium imports. "We share the USW's determination to find solutions to the...
Govt of India may recommend provisional safeguard duty on aluminium
Just as provisional safeguard duty was imposed on the import of steel last year, the Government of India is likely to recommend the same for aluminium import as well, reports . Indian aluminium giants like Hindalco, NALCO, BALCO and Vedanta have complained about the incessant dumping from China and...
The Aluminum Association to review United Steelworkers’ petition on primary aluminum
The Aluminum Association looks forward to carefully reviewing the Section 201 petition on primary aluminum filed by the United Steelworkers on 18th April. The Association assured to work with their membership to better understand the impacts of such an action on the entire aluminum value chain. The...
Pakistani auto part manufacturers push for exemption from steel and aluminium import duties
The Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) has urged the Federal Board of Revenue (FBR) to immediately withdraw the new regulatory duty on all raw materials that they import. The government has recently imposed 15 per cent additional import duty on different...
China Shandong gets tough on aluminium capacity elimination
Shandong, among China’s top three aluminium producing provinces, will get tougher on weeding out excess aluminium capacity this year, reveals latest industry reports. “New aluminium projects shall not be approved unless being swapped with aluminium elimination projects of larger scale. Aluminium...
Chinese aluminium suppliers assessed dumping duties by Trinidad and Tobago
Trinidad and Tobago’s Trade and Industry Minister Paula Gopee-Scoon recently made a final determination that exporters from the People’s Republic of China have been dumping aluminium products in Trinidad and Tobago. As a result, Gopee-Scoon has ordered the Comptroller of Customs and Excise to...
Aluminum Association steps up on trade
The U.S. aluminium industry is working through multiple channels to address China’s production overcapacity and resulting glut in the global market. The “China Trade Task Force,” a cooperative effort between smelter Century Aluminum and the United Steelworkers, has been the face of the drive to...
Hindalco jumps 15.44% in three sessions
Hindalco Industries jumped 5.95% to INR 79.25 at 15:15 IST on BSE, with the stock extending recent gains after the finance minister in Union Budget 2016-17 hiked customs duty on primary aluminium and other aluminium products to check rising imports. Meanwhile, the BSE Sensex was up 335.16 points,...
Hike in aluminium import duty not benefitting Indian cos: Agarwal
India government's move to protect domestic aluminium producers by raising import duty on the metal has been neutralised by doubling of cess on coal, mining baron Anil Agarwal said today. Budget 2016-17 raised customs duty on primary aluminum to 7.5 per cent from 5 per cent, while the levy on other...
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...
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....
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,...
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...
I cannot stop all imports, says Nirmala Sitharaman; Indian aluminium producers get the message
Even as the clamour against increasing imports from countries like China has been growing louder, commerce and industry minister Nirmala Sitharaman said last week that the onus was on the industry to deal with rising imports of several essential items. “I cannot stop all imports... but India’s...
