Record high aluminium prices in the US and Europe likely to encourage exports of the metal from India; Hindalco, Vedanta to gain

Record aluminium prices in the United States and Europe will be sustained by Russia’s mining tax for some months, but attempts to push prices even higher are likely to face headwinds from traders cashing in their stocks, analysts said. Russia has imposed a 15% tax or a minimum of $254 a tonne on aluminium exports […]

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Aluminium producer, Hindalco posts highest ever quarterly net profit of Rs 2,787 crore, as metal prices shine

Hindalco Industries reported a strong first quarter performance this fiscal, beating analyst estimates. Its quarterly performance was supported by good earnings from its US-based subsidiary, Novelis and a sharp increase in aluminium and copper prices, amidst a surging global demand for metals. The Aditya Birla Group company recorded its highest-ever quarterly net profit on a consolidated […]

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Hindalco posts threefold rise in profits to Rs 1,928 crore in Q4 of FY21

Aditya Birla group company Hindalco Industries reported almost three-fold year-on-year increase in its consolidated net profit of Rs 1,928 crore for the quarter ended March 31, 2021. The earnings were driven by strong performance at its US-arm Novelis and India aluminium business amidst the sharp surge in aluminium prices globally. The company’s consolidated revenue from operations […]

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India’s commerce ministry to monitor imports of aluminium, copper

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The directorate general of foreign trade (DGFT) has said in a notification that the import policy for copper and aluminium has been amended from “free” to “free with compulsory registration” under the non-ferrous metal import monitoring system (NFMIMS). The NFMIMS will be effective from 12 April, 2021. In line with the import monitoring system for […]

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Adani, Andhra govt win coal blocks in auction

Four coal blocks, including a coking coal mine, were grabbed by private players, including the Adani group, on the second day of auctions. This has confirmed adequate investor interest in the set of assets offered under the commercial mining policy. More aggressive bidding was seen in the case of smaller blocks. State government undertaking Andhra […]

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Vedanta bids most for Odisha mine on day one of commercial coal mining auctions

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The auction of coal blocks for commercial mining which kickstarted yesterday on Monday saw Vedanta bidding the highest for a mine in Odisha, while Hindalco bid the most for a block in Jharkhand. Vedanta made highest bid for Radhikapur West mine at 21 per cent revenue sharing, the coal ministry said in a statement.  Hindalco Industries bid the […]

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