China’s growing domination of base metals continues: Reuters

A recent Reuters article suggests China’s domination of the base metals market was marching on relentlessly prior to the coronavirus outbreak. The headline, “China’s copper imports and aluminium consumption to drop again in 2020,” suggested otherwise, painting an initial image of a depressed market — but the reality is it is anything but. China’s imports […]

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Primary aluminium makers, and their counterparts in secondary re-melting industry spar over a range of issues

The primary aluminium manufacturers and their counterparts in secondary re-melting industry have locked horns over an array of issues concerning the domestic market with imports and metal prices being the most contentious points, reports Business Standard. Reacting to a string of allegations made by Aluminium Secondary Manufacturers Association (ASMA), the Aluminium Association of India (AAI) […]

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Aluminium industry seeks lower import duty on raw materials in Budget 2020

Aluminium-photo-courtesy-Rusal.jpg

India’s aluminium industry has urged the Centre to cut basic custom duty on critical raw materials in the upcoming Union budget, saying high duties will be detrimental for local manufacturers. In its suggestions for the Union Budget for 2020-21, the aluminium industry has said that the basic customs duty on raw materials like caustic soda lye should […]

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Indonesian mining giant seeks to triple aluminium production

PT Indonesia Asahan Aluminium has set a long-term goal of tripling its production capacity by expanding operations to the island of Borneo as it seeks to utilize the region’s abundant bauxite reserves, Bloomberg reports. The state-owned company known as Inalum plans to boost capacity to 750,000 tonnes by building a 500,000-tonne smelter in North Kalimantan, […]

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Vedanta and Hindalco, both raised aluminium ingot price by more than 1% with effect from January 22, 2020

Vedanta has increased the prices of aluminium ingots, billets and wire rods by more than 1% with effect from January 22. This is the second time in a row that the company has raised the prices of its products. The price for Vedanta aluminium ingots now stands at Rs.144,750-157,750 per tonne. The company generally links prices […]

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Improvement in macro sentiment leading to recovery in Aluminium, Copper prices: ICRA

Prices of aluminium and copper are showing signs of recovery in the last three months as trade tensions in international markets have eased to an extent leading to an improvement in sentiment, rating agency ICRA said in its research report. Consequently, while aluminium prices at the spot market have increased by 4 per cent in […]

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Drop in sales revenue by 4.7% for non-ferrous metal companies in September quarter

Sales of non-ferrous metal companies contracted by 4.7 per cent in the second quarter (Q2) of this fiscal on account of overall weakness in metal prices, reports Business Standard. Among the non-ferrous metal companies, aluminium firms witnessed 21 per cent contraction in sales. A study by CARE Ratings noted that the average prices of aluminium in Q2 of FY20 […]

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