Asia

Hindalco Stock Corrected 6% Over Past Two Trading Sessions

Hindalco Stock Corrected 6% Over Past Two Trading Sessions

Stock of India’s Hindalco Industries Ltd. has experienced a 6% correction over the last two trading periods on the National Stock Exchange of India. Experts say the slide in the Aditya Birla Group subsidiary is due to a similar dip in the...

Events

Indian State to Auction Off Bauxite Mines

Following up on a successful auction in February, the Indian state government of Chhattisgarh is planning to put two more bauxite mines up for auction in the near future. According to officials, the government will also auction off eight other limestone mines as well. Earlier this year the government auctioned off three limestone and one […]

Nalco to Buy Back 25% of Company Shares from Cash-Strapped Indian Government

India’s National Aluminium Company Ltd (Nalco) announced on Monday that it will be buying back 25% of its outstanding shares from the Indian government. The country’s Mines Secretary Balvinder Kumar made the announcement after meeting with the company to determine pricing. Begun by the finance ministry earlier this year, the buyback is part of an […]

Bright Spots Abound in a Rough Q1 for Bahrain’s Alba

Aluminium Bahrain B.S.C. (Alba) released first quarter numbers on Monday. The firm’s sales figures were up in the quarter despite a weak overall market. According to the company’s press release, it reported a Total Sales number of BD 156.5 million (US$416 million), which is down 24% year-on-year from BD 206.6 million (US$549 million) for the […]

Balco to Implement Modernization Plan to Increase Output to 1 MTPA

Citing a rally in the worldwide aluminium market, India’s Bharat Aluminium Company Limited (Balco) announced plans last week to boost production to one million metric tons per annum. The firm, which is a subsidiary of Vedanta Resources plc, has put off the production increase, which was planned for 2013. The proposal is for Balco to […]

Japanese Firms Ramping Up Automotive Aluminium Offerings

Two major Japanese metals companies are planning to expand their aluminium offerings to take advantage of the emerging trend in consumer vehicle lightweighting for improved fuel efficiency. Kobe Steel is planning to spend approximately US$93 million to assemble aluminium plants in the United States and the People’s Republic of China. The plants will make extruded […]