Hindalco

Hindalco Raises US$500 MM via Stock Offering

Hindalco Raises US$500 MM via Stock Offering

Two-and-a-half years after a tepid reaction from investors to a similar opportunity, a qualified institutional placement (QIP) launched on Friday netted Hindalco US$500 million over the weekend. The QIP, which was India’s first metal sector share sale using the method, was also...

Events

Novelis Boasts 53% Increase in Recycled Content Use in Latest Sustainability Report

Atlanta’s rolled and recycled aluminium firm Novelis Inc. released its sustainability report for FY 2016 today. According to the report, the firm achieved a recycled aluminium input of fifty-three percent for the year, which is a twenty-three-percent improvement over baseline levels. Novelis says that the significant improvement, which is measured against average inputs from fiscal […]

Indian Government Declines Imposing Safeguard Duty on Imported Aluminium

The Indian government has decided against imposing import safeguards against overseas aluminium. According to the announcement, made on Tuesday, the government did not find sufficient evidence that imported aluminium impacts the domestic aluminium industry’s bottom line. The Directorate General of Safeguards, which is the branch of the finance ministry charged with making such determinations, said […]

Novelis Lauded for Recycled Automotive Program

Atlanta’s rolled aluminium firm Novelis Inc. was awarded the European Aluminium Award at Aluminium 2016 in Germany this week. The award was given for the company’s work in developing the Recycled Aluminium Car (REALCAR) project in conjunction with Jaguar Land Rover Limited. REALCAR, which was begun in 2008, is a project to develop a closed-loop […]

Indian Aluminium Producers Seek Relaxation of Duties on Caustic Soda

Several Indian aluminium manufacturers, including Vedanta Ltd, Hindalco Industries Ltd, and National Aluminium Co. Ltd (Nalco) have petitioned their government to exempt domestic alumina producers from the anti-dumping duties on caustic soda. Known formally as sodium hydroxide (NaOH) and informally in some regions as “lye,” caustic soda is an metallic base and alkali inorganic compound […]

Indian Aluminium Producers Forecast Double-Digit Demand Growth

India’s aluminium industry is on the rebound after a period of lower demand, according to domestic aluminium firms. Double-digit growth is on the horizon, they say, thanks to significant increases in automotive sales and industrial activity. Domestic aluminium producers also point to an increased public investment in infrastructure, reforms in the country’s power sector, and […]