Aluminium Production

Vedanta on Tuesday said that its total aluminum production dropped by 2 per cent to 5,66,000 tonnes in the third quarter of the current fiscal. The company's total aluminum output stood at 5,79,000 tonnes in the year-ago period. "Alumina production at Lanjigarh refinery decreased by 6 per cent YoY and 2 per cent QoQ to 443kt due to maintenance activities in calciners," Vedanta said in a filing to BSE. The company said at Zinc India, the mined metal production increased marginally by 1 per cent to 2,54,000 tonnes in the third quarter. Production of saleable iron ore in Karnataka rose 17 per cent to 1.5 million tonnes (MT) in the third quarter over 1.2 MT in the year-ago period. The finished steel production in Q3 dropped to 3,06,000 tonnes from 3,50,000 tonnes in the corresponding quarter of the previous fiscal.

While UltraTech, ACC, Ambuja intend to go ahead with capex, Analysts point to volatility in global aluminium prices for Vedanta arm's revised capex guidance

Vedanta Ltd on Monday said that its aluminium production increased by 2 per cent to 5,84,000 tonnes in the second quarter of the ongoing fiscal. The company's aluminium production in the corresponding quarter of FY22 stood at 5,70,000 tonnes, Vedanta Ltd said in a filing to BSE. The mined metal output at Zinc India during the July-September quarter also went up by 3 per cent to 2,55,000 tonnes over 2,48,000 tonnes in the same period of the previous fiscal. "First half mined metal production at 507,000 tonnes was higher by 8 per cent YoY, on account of increase in ore production, further supported by better grades and improved operational efficiency," the filing said. The production of finished steel also went up by 11 per cent to 3,25,000 tonnes, from 2,93,000 tonnes in the year-ago quarter. The total power sale increased to 3,615 million units (MU), compared to 2,905 MU in the second quarter of previous fiscal. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the .

Company sees consumption rising as electric vehicles increase and light metals become more important

Aluminum is one of the most energy-intensive metals to produce, and closure of the Slovalco facility adds to growing signs of stress in Europe's industrial economy as power prices surge to record high

Metal's price has declined by a third in two months on LME; analysts differ on how supply-demand situation may pan out

The letter has been prompted by a recent adhoc decision by state-run CIL to further curtail road and rake supplies of coal to the non-power sector, without any advance notice

The commerce ministry has recommended the continuation of anti-dumping duty on Chinese aluminium foil, used in food and pharma sectors, for five years to guard domestic players from cheap imports.

A low inventory level of aluminium globally amid a tight demand-supply situation expected to aggravate the availability of the commodity in the rest of the world

Vedanta's aluminium business, which has not been impacted majorly by COVID-19, would focus on backward integration in the next fiscal and would bring into production two of its mines in Odisha to provide raw material security for its plants, a top official of the company said.

The domestic aluminium industry has sought reduction in basic custom duty and correction in inverted duty structure on critical raw materials

Tightening supplies of coal have triggered a power crisis in India as about 70% of the nation's electricity is fired by the fuel.

The metal kept climbing Monday after advancing 15% over the last three weeks

The company had reported a consolidated profit of Rs 16.69 crore in the year-ago period.

Company's net debt/EBITDA ratio at pre-acquisition levels of Aleris

"After Q1 of 2020-21 there are some signs of recovery with easing of restrictions and resumption of economic activities. This gives rays of hope for better financial performance," the NALCO CMD said

Blocking of the online system for exporters to apply for tax incentives under the export incentive scheme MEIS has created an "extremely precarious situation" for aluminium exports

Demand for aluminium has ebbed worldwide but producers fear Chinese manufacturers, buoyed by government incentives, will flood even this market

In a Q&A, Satish Pai says his firm switched to higher exports in April and May as domestic demand was weak. And while metal prices remain low, around 80% of its Ebitda remains unaffected by price

The company aims to commence mining from this Jamkhani block within a year of getting the requisite approvals from the state authorities