Aluminium

Canada initiates WTO dispute complaint on US steel, aluminium duties

The request was circulated to World Trade Organization members on Thursday

Exporters seek import duty cuts to counter US steel, aluminium tariffs

The 25% US tariffs on steel and aluminium imports, effective March 12, have raised Indian exporters' concerns about declining orders and rising costs

Novelis expects improved outlook in near term, Q4FY25 to outperform Q3

Upstream revenue in aluminium stood at Rs 9,990 crore in Q3FY25 (+25 per cent Y-o-Y).

Hindalco Q3FY25 results: Net profit up 60.2%, beats street estimates

Profit boost from robust India aluminium business and higher other income

Trump signs proclamations to close steel, aluminium tariff loopholes: WH

Leavitt noted that Trump continues to take bold action to protect the steel and aluminium industries of the US

Trump's steel, aluminum tariffs may drive up car costs: Industry leaders

President Donald Trump's tariffs on steel imports this week could wreak havoc on American auto manufacturing, industry leaders say. The moves align with the Trump administration's aggressive global trade agenda and ambitions to strengthen US industry, but they could have an inverse effect. On March 12, all steel imports will be taxed at a minimum of 25%, the result of two orders the president signed Monday that also include a 25 per cent tariff on aluminum. That could have a serious impact on domestic auto companies including Ford, GM and Stellantis and make these companies' vehicles more expensive for the nation's car buyers. Tariffs on crucial products coming from outside of the US places pressure on domestic sourcing of the materials, experts say. The basic rules of supply and demand could drive up costs. "Steel producers have to find ways to increase capacity, and aluminum and steel might be in short supply in the short term," said Sam Fiorani, analyst at AutoForecast Solutions

Trump's steel tariff threat hammers related stocks; Nifty Metal falls 3%

Steel tariff Trump news: US President Donald Trump may announce a 25-per cent tariff across all the imports of steel and aluminum as early as Monday

Vedanta's Rs 1 trillion aluminium refinery to be built in Odisha's Raygada

Mining conglomerate Vedanta on Tuesday said the company's Rs 1 lakh crore aluminium refinery and smelter project will be set up in Raygada district of Odisha. The first phase of the project is expected to be commissioned in the next three years, which will be expanded later, company Chairman Anil Agarwal said. Vedanta in October last year announced that it will make Rs 1 lakh crore investment in Odisha to build a 6 MTPA alumina refinery and a 3 MTPA green aluminium plant. However, the place where it will be set up was not revealed then. Speaking on the sidelines of the state's business conclave, Utkarsh Odisha-Make in Odisha, Agarwal said, We will establish the aluminium refinery of 6 million tonnes per annum (MTPA) capacity and aluminium smelter of 30 lakh tonne capacity in Rayagada district. The total investment will be around Rs 1 lakh crore. He said the mining conglomerate has got Sijimali bauxite mine in Rayagada district, which is now being developed for exploration. During

Aluminium seen as an outlier among metals; Hindalco better placed

The suspension of bauxite exports by Guinea in Oct'24 has tightened the alumina market

Ten EU nations write letter seeking wider sanctions on Russian-origin metal

There are more than 2,000 individuals and entities on the EU's sanctions list, but not Russian metal producers such as Rusal or primary metal produced in Russia

Vedanta slumps 15% from Sept 30 peak: is it a good entry point?

Strong Q2 performance, improved earnings visibility keeps analysts bullish on the counter

Budget 2024: MRAI urges govt to remove import duty on aluminium scrap

Ahead of the budget, recycling industry bodyAI has urged the government to remove the import duty on aluminium scrap, saying it will help promote sustainability in the industry. According to the Material Recycling Association of India (MRAI), the recycling process of aluminium scrap emits only 0.3 million tonnes (MT) of Co2 on per tonne of production compared to 14 tonnes of carbon emissions on the production of 1 MT of aluminium through smelters route which involves maintaining of coal-based capacities for power supply. "Among the key challenges faced by the Indian aluminium recycling industry is 2.5 per cent import duty on aluminium scrap. It is a key raw material for aluminium recycling and the government should make it to zero until the quality material (scrap) is available in sufficient quantity in the domestic market,"AI said in a letter to Finance Minister Nirmala Sitharaman. Finance Minister Nirmala Sitharaman will present the full Union Budget for the financial year 2024-25

Budget 2024: Aluminium makers urge govt to up import duty on scrap to 7.5%

Aluminium producers have made a plea to the government to increase import duty on aluminium scrap to 7.5 per cent from present 2.5 per cent in the upcoming budget. They have also sought maintaining the duty on primary aluminium imports at the current rate of 7.5 per cent or a marginal rise to 10 per cent. The move would discourage the influx of sub-standard materials and safeguard the domestic industry which provides livelihood to over 10 lakh people. In its representation to the finance minister, the Aluminium Association of India (AAI) has asked the government to control imports by fixing scrap import duty at par with that on primary aluminium, i.e. 7.5 per cent. AAI has also called for maintaining the duty on primary aluminium imports at the current rate of 7.5 per cent or a marginal rise to 10 per cent, encompassing downstream products as well, in order to protect the domestic market from inundation of cheap imports. Despite sufficient domestic production, primary aluminium .

Vedanta reports rise in production of aluminium, iron ore, zinc in Q1

Mining giant Vedanta Ltd on Wednesday reported a rise in production of aluminium, zinc, iron ore and steel in the June quarter. However, the production of mined metal at overseas and oil and gas dropped during the quarter. In a filing to the BSE, the company said the aluminium output grew 3 per cent to 5,96,000 tonnes in the first quarter over the year-ago period, Vedanta said in a filing to BSE. At Zinc India, the saleable metal output grew to 2,62,000 tonnes over 2,60,000 tones. While at Zinc International the mined metal output dropped to 38,000 tonnes, over 68,000 tonnes in the first quarter of FY24. Meanwhile, oil and gas output dropped 17 per cent to 112,400 average daily gross operated production (boepd) during the quarter from 134,900 boepd a year earlier. The production of saleable iron ore rose to 1.3 million tonnes over 1.2 million tonnes in the year-ago period. The total saleable steel production rose 10 per cent to 3,56,000 tonnes and power sales rose 13 per cent to

Production of iron ore increases 4% to 26 million tonnes in April

The production of iron ore increased 4 per cent to 26 million tonnes (MT) and the output of limestone also went up marginally by 2.1 per cent to 39.3 million tonnes in April. Iron ore and limestone together account for about 80 per cent of the total mineral production by value. In the first month of 2024-25, there is a steady increase in the production of these minerals as compared to the production in the corresponding month last year, the mines ministry said in a statement. Production of iron ore has increased from 25 million tonnes during April 2023 to 26 million tonnes during April 2024, registering a growth of 4 per cent. Production of limestone has increased from 38.5 MT during April 2023 to 39.3 MT in April 2024. The production of aluminium during April rose 1 per cent to 3.42 lakh tonnes (LT) over 3.39 LT production during April last fiscal. "Continued growth in production of iron ore and limestone in the current financial year reflects the robust demand conditions in the

BSE Metal index surges 3% as base metals climb to multi-year highs

Metal stocks top performers: Here's why metal stocks were in demand on the Dalal Street on Wednesday.

Analysts hopeful for Hindalco despite Novelis' capex revised upwards

Analysts maintained consensus 'buy' rating on Hindalco though the stock lost over 12 per cent post Q3 on Tuesday, mainly due to the sharp increase in Novelis' capex, and ended flat on Wednesday

Nalco Q3 results: Profit rises two-fold to Rs 471 cr, income at Rs 3,397 cr

National Aluminium Company Ltd on Tuesday reported almost two-fold rise in consolidated profit to Rs 470.61 crore for the quarter ended on December 31, 2023. The company had posted a consolidated profit of Rs 256.32 crore in the October-December quarter of FY2022-23, Nalco said in a filing to BSE. Total income during the quarter under review rose to Rs 3,397.87 crore from Rs 3,357.71 crore in the year-ago period. The company's board has approved the second interim dividend of Rs 2 per share on the paid-up equity share capital of Rs 918.32 crore for the current fiscal. National Aluminium Company Limited (Nalco) is a Navratna PSU. It is one of the largest integrated bauxite-alumina-aluminium-power complex in the country.

Aluminium sector surging but hampered by labour shortages: Hindalco

India is already the world's second biggest aluminium producer and third biggest consumer, with demand set to double over the next decade, Nilesh Koul, an executive with Hindalco Industries

Hindalco surges 7% in 2 days on pact with Italian firm to make rail coaches

Meanwhile, Novelis, as subsidiary of Hindalco, expects global demand for aluminum beverage can sheet to grow at a 3 per cent compounded annual growth rate from 2022 to 2031