National Aluminum Co Ltd (Nalco) reported a consolidated profit of Rs 239.71 crore for the quarter ended December 31, 2020. The company had posted a consolidated loss of Rs 33.90 crore in the corresponding quarter of the previous financial year, Nalco said in a filing to the BSE. The net profit has jumped by 123 […]
The Coalition of American Metal Manufacturers and Users (CAMMU) sent a letter to President Joe Biden requesting the immediate termination of the Section 232 tariffs on steel and aluminum, stating that the tariffs imposed under former President Donald Trump have damaged metals consuming industries. The group said it was pleased to see Biden’s executive order […]
The World Trade Organization has delayed until at least the second half of 2021 its ruling on metal tariffs imposed by the United States, giving President Joe Biden more time if he wishes to settle the disputes. The WTO panel handling challenges brought by China, the European Union, India, Norway, Russia, Switzerland and Turkey had […]
As we enter 2021, many mined commodity prices are riding high after recovering from a dramatic pandemic-induced slump in the first half of 2020. The new year, however, raises new questions. How will Chinese policy affect supply and demand in 2021? Will the growing rhetoric around decarbonisation be followed up with concerted global action? And […]
Ramanuj Kumar is a partner in the law firm Cyril Amarchand Mangaldas, where he specialises in infrastructure, mining and metals sectors. He spoke to Biman Mukherji of indoasiancommodities.com about what the Indian annual budget due on Monday can offer to boost the minerals and mining sector. Q: India has abundant mineral wealth, but has failed to capitalise on […]
Copper hit its lowest in over a month as investors sought safety in the dollar due to rising coronavirus cases and lockdowns in large economies, pressuring metals priced in the greenback. Benchmark three-month copper on the London Metal Exchange (LME) fell 0.7 per cent to $7,765 a tonne, its lowest since Dec 23. The prospects […]
Domestic aluminium manufacturers have urged the government to raise basic customs duty on both the primary aluminium and aluminium scrap from present 7.5% and 2.5% respectively to 10%, in the Budget for 2021-22, to rein in the rising imports, says a Financial Express report. They also want to eliminate GST compensation cess on coal, around […]
State-run engineering firm BHEL said it has bagged an order worth Rs 450 crore for a steam and power plant from National Aluminium Corporation Limited (NALCO). The Rs 450 crore order has been placed on BHEL by NALCO for its 5th Stream Alumina Refinery Expansion Project at Damanjodi, Odisha, Bharat Heavy Electricals Limited (BHEL) said in a statement. BHEL’s […]
Metal stocks on the Indian bourses are continuing their bull run, with steel companies announcing another round of price hike of Rs 1,500 a tonne for hot-rolled coil in January. Similarly, TMT rebar prices were hiked by Rs 2,400 a tonne as the demand from infrastructure and real estate projects is looking up. The industry […]
The spread of the Covid-19 pandemic led to lockdowns and economic devastation across the world. The story for commodities was far more nuanced, reflecting that the pandemic was not your run-of-the-mill global recession. The story for 2021 is likely to be dominated by the recovery from the coronavirus, especially since it now seems likely that […]
