Page 2 - Aluminium Production
Aluminium firms seek tariff, non-tariff support fearing sluggish demand
India's aluminium consumption is tipped to reduce by 1.5-2 million tonnes in FY21 as the pandemic has considerably weakened demand from consuming industries
 "Aluminium firms seek tariff, non-tariff support fearing sluggish demand")
Crisil revises ratings outlook on Hindalco to stable from positive
Debt-funded Aleris purchase, likely moderation in operating profits amid Covid-19 could push up debt/EBITDA ratio
 "Crisil revises ratings outlook on Hindalco to stable from positive")
Domestic non-ferrous outlook negative as global metal prices crash: Icra
Covid-19 outbreak drags aluminium prices by 16%, zinc by 23%, copper by 20%
 "Domestic non-ferrous outlook negative as global metal prices crash: Icra")
Nalco beats coal supply woes amid Covid-19, logs 90% capacity utilisation
Even though Covid-19 crisis looms, all of Nalco's units have been operational with pruned manpower
Covid-19: Nalco's Angul smelter runs smoothly with 3 months' stock of coal
After intermittent disruption in coal despatches due to sporadic stirs at mines under the command area of Mahanadi Coalfields Ltd, supply position improved substantially post monsoons
 "Covid-19: Nalco's Angul smelter runs smoothly with 3 months' stock of coal")
Primary aluminium makers, secondary producers spar over imports, prices
The domestic aluminium industry is going through a tough phase and struggling to be cost competitive with production costs by Indian producers occupying the highest quartile in the curve
 "Primary aluminium makers, secondary producers spar over imports, prices")
Vedanta Q3 PBT at Rs 3,806 cr, up 9.4% on lower costs, exceptional gain
Sales down 10% to Rs 21,126 cr mainly due to lower commodity prices, muted volumes in zinc, oil & gas and copper
 "Vedanta Q3 PBT at Rs 3,806 cr, up 9.4% on lower costs, exceptional gain")
How low tariffs have turned India into a dumping ground for aluminium scrap
Aluminium recyclers are happy that scrap is spared any extra customs duty burden
New CPCB pollution norms to hurt viability of CPP-based industries
Aluminium producers to be among worst hit
Hindalco betting on packaging, transport container segment, says official
As part of entering the packaging business, Hindalco recently partnered with the Jute Corporation to make recyclable packaging material
Vedanta cuts aluminium making cost by 10% to $1,852 a tonne in Q2
Firm aims to achieve Rs 1,500 a tonne; LME prices of metal stood at $1,756 a tonne as on November 14. At this price point, 10% of the global smelters are incurring cash losses
Weak forecast for aluminium prices to affect domestic producers next year
Aluminium prices are expected to soften by 1.7% in 2020 after an expected decline of 15.1% in calendar 2019
Aluminium makers stare at consumption slowdown on auto sector stress
The prevailing economic slump and auto sector stress are likely to moderate consumption of aluminium products
Corporation tax rate cut to help Nalco tide over sagging alumina prices
The sobering of global alumina prices and stablisation in supplies have made it very difficult for Nalco to sustain the high profit momentum of last fiscal
Flagging consumption and import surge hurt India's aluminium producers
Sales of aluminium companies fell by 10.8 per cent in the period as imports lead market.
Vedanta's alumina production cost falls 17% in Q1, lowest in two years
In FY19, Vedanta's average alumina production cost stood at $322 per tonne
 "Vedanta's alumina production cost falls 17% in Q1, lowest in two years")
Primary aluminium producers facing severe coal crisis, high power cost: AAI
According to AAI, the aluminium producers have to import the dry fuel which leads to increased cost of production
Indian aluminium makers defy global trend, log 12% growth in April-July
Nalco and Vedanta are looking to improve smelter capacity utilisations in this financial year
