Novelis Reports Numbers for Second Quarter of FY 2017
Novelis reported numbers for the second-quarter of fiscal year 2017 earlier today. The firm reported increases in both financial and...
Hindalco
Hindalco Turns In Strong Financials for Second Quarter of FY 2017
Hindalco Industries Limited reported unaudited earnings for the second quarter of fiscal year 2017 on Saturday. Numbers for the firm were up, thanks in large part to a strong showing in aluminium. Hindalco’s revenues in the quarter were ₹95.62 billion, which was...
European Aluminium Demand Remains Strong: Novelis SVP
Although Europe’s economy is stagnant at present, demand for rolled aluminium is strong. So said Novelis Inc.’s senior vice president...
Novelis Pledges US$1 MM to Habitat for Humanity
Rolled aluminium producer Novelis pledged to donate US$1 million to Habitat for Humanity on Friday, to be distributed over the...
Events
Balco Withdraws Case Against Coal Ministry Over Rejected Bid
India’s Bharat Aluminium Company (Balco) withdrew a case against the Coal Ministry at the Delhi High Court last week. Balco initially filed against the ministry opposing its decision to reject its winning bid for a coal block in Chhattisgarh. Balco initially “won” the bid in March 2015. However, the ministry subsequently rejected the bid, saying […]
Value addition can bail out debt laden Indian producers
For primary aluminium producers in India saddled with humongous debt, shifting focus to value added products is the new buzzword, and understandably so. Volatile LME prices have eroded much of the margins of top producers like Aditya Birla Group owned Hindalco and London listed metal conglomerate Vedanta’s aluminium operations in India. Between them, the two […]
Decision by Indian Government on MIP for Aluminium Expected in Fifteen Days
The Indian government has again taken up the subject of a minimum import price (MIP) on aluminium, and, according to an official cited in the domestic press, a final decision is expected within the next fifteen days. India’s Mines Secretary Balvinder Kumar said that his ministry is looking into the proposition of an MIP on […]
Indian Government Investigating Utkal Alumina’s Operations at Rayagada
India’s National Green Tribunal (NGT) instructed the country’s forest department to inspect Utkal Alumina International Limited (UAIL) to determine whether its operations at Rayagada are situated on forest land. Sanjit Kumar Turuk, listed as the petitioner, filed a petition with NGT alleging that UAIL was given a mining lease and allowed to operate an alumina […]
Hindalco Said to Soon Sell Brazilian Assets
According to sources close to the firm, India’s Hindalco Industries is planning to shed its alumina assets and bauxite mines in Brazil. The sources indicate that commodity prices are prompting the move. The sources, who spoke to Indian media on condition of anonymity, indicate that the proceeds of the sale would be used towards debt […]
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 businesses and policymakers to accelerate decarbonization efforts. However, with COVID-19 disrupting lives and economies in an unprecedented manner, countries across the globe ...
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 ...
Aluminium of Greece (AOG): is the Pechiney spirit still alive?
Between September 24-25, FastmarketsMB organized its annual aluminium conference in Athens. A day before the conference, in accordance with an ...
