Novelis Records Record Production, Financial Results In July To September Quarter
Atlanta’s rolled and recycled aluminium firm Novelis Inc. reported financial results for the first quarter of fiscal year 2021 on...
Hindalco
Hindalco Purchases Kuppam Aluminium Extrusion Plant From Norsk Hydro For US$33 MM
Norway aluminium producer Norsk Hydro ASA has agreed to sell its Kuppam extrusion plant to Hindalco for US$33 million according to announcements by both companies earlier this week. The firms say the deal is an asset sale that will incur no debt....
Norsk Hydro And Hindalco Less Than Pleased Over LME’s Proposed Low-Carbon Aluminium Trading Platform
A few of the world’s major aluminium producers are less than pleased with the London Metal Exchange with its move...
Hindalco Inks Agreement To Supply Red Mud To Indian Cement Firm UltraTech
Indian aluminium smelter Hindalco and India’s biggest cement and concrete firm UltraTech Cement Ltd. have entered into an agreement for...
Events
Hindalco To Increase Exports Of Aluminium To Offset Drop In Domestic Demand
Indian aluminium smelter Hindalco said last week it plans to increase overseas sales of its output in the coming year to almost two-thirds, raising it from last year’s half-and-half split between domestic and foreign sales. According to statements made by managing director Satish Pai, the move is the result of a significant downturn in domestic […]
Indian Government Approves Hindalco Plan For Second Alumina Refinery In Odisha
Indian aluminium smelter Hindalco obtained permission from the national government earlier this week for its planned greenfield alumina refinery in the western state of Odisha. According to reports, the High Level Clearance Authority (HLCA) gave its blessing to Hindalco’s plan, which is an ₹8,000-crore (US$1.1 billion) project to be built with a nameplate capacity of […]
Expected Tepid Response Delays Odisha’s Auction Of Bauxite Blocks
Despite residing above over half the country’s total known bauxite reserves, the Odisha government has yet to place a single block up for online auction to date. According to experts, state officials have thus far backed away from auctioning the blocks over concerns that the bauxite ore outcroppings will not draw the sort of significant […]
Novelis Record Financial Performance Shines Amid Dim Results For Hindalco In FY ‘20’s First Quarter
Indian metals firm Hindalco reported results for the first quarter of fiscal year 2020 last week. Though the market presented the firm a challenge in the quarter, Hindalco says stable operational performance carried it through. In the first quarter Hindalco’s consolidated EBITDA fell by 13 percent, from ₹4,335 crore last year to ₹3,770 crore this […]
India’s Output Growth To Slow Thanks To Soft LME Prices And Maxed-Out Capacity
India’s aluminium production in the coming fiscal year is expected to taper off compared to previous years thanks in part to a weak market for the metal at the London Metal Exchange (LME) in recent months. Such was the conclusion drawn by India’s ratings firm CARE Rating Limited and spelled out in a report released […]
Biden Infrastructure Bill A Big Boon To Aluminium Industry: Norsk Hydro VP Mike Stier
Earlier this month the United States Congress passed into law President Joe Biden’s US$1.2 trillion infrastructure package. The Investing in a New Vision for the Environment and Surface Transportation in America Act (or the INVEST in America Act) will allocate US$550 billion ...
The Net-Zero Shift Starts With Low Carbon Aluminium
2020 was supposed to be “year of climate action”, with the Glasgow COP26 acting as a major milestone for both ...
Aluminium at the LME Week – Key Takeaways
Between October 28 and November 1st, London hosted the traditional London Metals Exchange (LME) Week gathering of analysts, brokers, traders ...
Aluminium Market Oversupplied, Demand Growth Flat
Base metals prices reacted positively to the progress registered in the latest round of US – China trade talks in ...
