Page 3 - Aluminium Industry

Reduce customs duty on critical raw material for aluminium sector: Assocham

Industry body Assocham has sought reduction in basic customs duty and correction of inverted duty structure on critical raw materials for the aluminium industry as high import duties is a huge disadvantage for the sector heavily dependent on imported raw materials. In its pre-Budget memorandum 2023-34, Assocham said high import duty on raw materials results in Indian finished goods getting costlier and uncompetitive in international markets, rendering negative protection against cheaper imports of finished products, and discourages domestic value addition within the country. "The average production cost of Indian aluminium producers is amongst highest in the world, majorly due to high incidence of unrebated Central & State taxes and duties on inputs/ raw materials accounting for 18-20 per cent of aluminium production costs," it said. In a bid to improve the cost structure of the Indian aluminium industry and enhance competitiveness, the basic customs duty on critical raw ...

US duty on steel, aluminium inconsistent with global trade norms: WTO panel

A dispute panel of the World Trade Organisation (WTO) has ruled that the US decision to impose customs duties on certain steel and aluminium products is inconsistent with the global trade norms. This ruling was given in the cases brought by China, Norway, Switzerland and Turkey against these duties. The WTO report assumes significance for India also, as the country in 2018 too had approached the Geneva-based WTO against the US move to impose these duties. According to sources here, this ruling will help strengthen the Indian case too. However, the sources said that India is inclined to resolve the dispute with the US amicably and on mutually agreed terms. India had earlier stated that the imposition of high import duties by the US has impacted exports of these products by Indian businesses. India too has alleged that the US move is also not in compliance with global trade norms. In 2018, the US imposed 25 per cent and 10 per cent import duties on certain steel and aluminium produ

Price volatility takes sheen off aluminium firms' capital expenditure

Hindalco's subsidiary Novelis as well as the aluminium division of Vedanta have trimmed guidance by 30-40 per cent for the year

Aluminium heads for more supply chaos as Joe Biden weighs Russia ban

The Biden administration is considering options including sanctions on Russia's top producer of aluminium as the White House looks to punish Moscow for its military escalations in Ukraine

Near-term profit woes for Hindalco's India biz amid high energy costs

Margin recovery expected in the second half of FY23

Demand, margin worries weigh on aluminium producers as crises continue

Metal's price has declined by a third in two months on LME; analysts differ on how supply-demand situation may pan out

Birla's Hindalco Industries plans $2.5 billion US aluminium recycling mill

The new facility will increase Novelis's, unit of Hindalco, recycling capacity to 90 billion cans globally, from 74 billion currently

Aluminium plants receive fewest coal rail rakes in six months

The industry got an average of 18.4 coal-laden carriages a day in the first half of March, the lowest since the 17.8 rakes it received in September

Firm demand, low global inventory to keep aluminium prices elevated: ICRA

A low inventory level of aluminium globally amid a tight demand-supply situation expected to aggravate the availability of the commodity in the rest of the world

Carmakers face soaring metal costs as supplies veer clear of Russian goods

Russia's invasion of Ukraine is ramping up the price of metals used in cars, from aluminium in the bodywork to palladium in catalytic converters.

Aluminium industry body urges PMO to ensure coal supply on priority

The Aluminium Association of India (AAI) on Wednesday said that non-power industries, including aluminium companies, has been "plagued" by a protracted coal shortage for the past seven months

Aluminium players say captive plants facing alarmingly depleted coal stock

Seeking government's help, the aluminium industry has also made a plea to earmark at least 25-30 coal rakes per day for economically viable and sustainable industry operations

2 bn units of renewable energy procured for aluminium smelter: Vedanta

Vedanta on Thursday said it has procured about 2 billion units of renewable energy through power exchanges for its aluminium smelter located in Jharsuguda, Odisha.

Hindalco's subsidiary Novelis to build aluminium recycling plant in US

Once the facility become fully functional, it is likely to generate 140 new jobs in Kentucky.

Miners body urges govt not to impose anti-dumping duty on caustic soda

Aluminium industry is one of the major consumers of caustic soda in the country

Aluminium industry seeks cut in basic custom duty on critical raw materials

The domestic aluminium industry has sought reduction in basic custom duty and correction in inverted duty structure on critical raw materials

Primary aluminium players seek import duty hike on premium products to 10%

Hindalco Industries and Anil Agarwal-led Vedanta Limited are private aluminium producers in the domestic market.

Vedanta sees India's aluminium output reaching 5 million tonnes in 5-6 yrs

Vedanta is raising annual capacity at Lanjigarh to 5 million tonnes of alumina from 2 million tonnes at a cost of about Rs 4,681 cr

DJSI 2021: Hindalco emerges as world's most sustainable aluminium co

Hindalco Industries Ltd, the metals flagship of Aditya Birla Group, on Tuesday said it has once again emerged as the world's most sustainable aluminium company in the Dow Jones Sustainability Indices 2021. Hindalco "has achieved the No. 1 rank in the aluminium industry for its sustainability performance in the 2021 edition of the S&P Dow Jones Sustainability Indices (DJSI) corporate sustainability assessment (CSA) rankings", the company said in a statement. Hindalco is the only aluminium company to enter the exclusive DJSI World Index in 2021 and retains its membership in DJSI Emerging Markets Index. The DJSI World Index comprises the top 10 per cent of the largest 2,500 companies by market capitalisation in the S&P Global Broad Market Index based on long-term economic and ESG (environmental, social and governance) factors. "This is the second consecutive year that Hindalco is at the top of the DJSI Indices having achieved a score of 73 percentage points against an industry ...

Aluminium hits $3,000 a ton for first time in 13 years on supply snarl

The metal kept climbing Monday after advancing 15% over the last three weeks