Industrial Metals

Nearly Rs 90,000 crore worth of capital expenditure has been incurred so far on various asset acquisitions and projects, with a major investment of about Rs 42,000 crore

Hindalco's subsidiary Novelis as well as the aluminium division of Vedanta have trimmed guidance by 30-40 per cent for the year

Jindal's growth plans are in sync with the country's target of doubling crude steel capacity to 300 mt of crude steel capacity in the next 9-10 years

Three-month copper on the London Metal Exchange was trading around $7,363 a tonne on Wednesday having declined more than 30% on growing recession fears since scaling a record peak of $10,845 in March

Shareholders of state-owned Hindustan Copper Ltd (HCL) on Wednesday approved a 23.2 per cent dividend for the financial year ended in March 2022. The company would make a total dividend payout of Rs 112.17 crore as approved in the 55th Annual General Meeting, HCL said in a statement. During the meeting, HCL Arun Kumar Shukla said the production from the company's flagship project, Malanjkhand underground mine, has commenced. He also informed that the company has repaid a loan of Rs 729 crore in FY2021-22 from its internal accruals. As the global economy moves toward net zero carbon emissions through the energy transition, the role of copper remains pivotal as the most efficient conductive material, indispensable for capturing, storing and transporting green energy, he said. Hence, a significant rise in demand for copper has been predicted on account of the thrust on a low-carbon economy, he added.

China's economy unexpectedly slowed in July, with growth in industrial output, fixed-asset investment, total social financing and new yuan loans slowing

Three-month aluminium on the London Metal Exchange (LME) slid 2.8% to $2,685 a tonne by 1400 GMT after touching the lowest since December last year

Benchmark copper on the London Metal Exchange was up 1% at $9,254 a tonne at 1602 GMT, while aluminium was 1.4% higher at $2,828 a tonne after earlier touching a one-week high of $2,865 a tonne

Data providers such as Reliance Jio, Airtel and large tech startups such as Flipkart, Paytm have yet to earn big profits, while metal giants are becoming important in an emerging low-carbon world

Billionaire Anil Agarwal's Vedanta Ltd on Friday said it will invest USD 1.5 billion across its oil and gas, zinc and steel businesses. Its board at a meeting on Friday approved USD 687 million capital spending for drilling of new wells at the firm's oil and gas unit, Cairn Oil & Gas, Vedanta said in a stock exchange filing. It also approved a USD 466 million phase-2 expansion of the Gamsberg zinc project in South Africa and another USD 348 million for steel expansion. The USD 687 million "capex investment is towards infill wells, development and exploration. The strategic priority for the Cairn Oil & Gas business is to increase near-term volume through infill wells and add resources through exploration," the filing said. It said that USD 360 million have been earmarked for infill wells in the prolific fields viz Mangala, Bhagyam, Aishwariya, Aishwariya Barmer Hill (all in Rajasthan block) and Ravva in eastern offshore. "The exploration work programme with capex investment of .

A parliamentary panel has suggested that greater transparency should be ensured in the auction of mineral concessions with pre-embedded clearances to give a fillip to the auction process

Benchmark prices for aluminium shed 2.1 per cent to $3,252 per tonne in official trading activity, after sinking 4.7 per cent in the previous session

Price hikes in the offing, say metal producers; may have to pass on costs, say user industries

Russia produces about 6 per cent of the world's aluminium, 10 per cent of global mined nickel and 3.5 per cent of world copper supply

Analysts expect the divergence to continue as Russia remains one of the world's top producers and exporters of energy and industrial metals.

Higher aluminium prices, tighter supplies and lower debt are positive triggers

The prolonged closure of its controversial Thoothukudi plant has had an unintended impact on the country's exports of the industrial metal

If demand remains good, investors can purchase at moderate valuations

All the base metal stocks could see deeper corrections, but a strong global economy may make this a medium-term buying opportunity

Copper, a bellwether for the global economy, rose as much as 2.4% to $9,780 per tonne in London