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Aluminium Sector

Reduce customs duty on critical raw material for aluminium sector: Assocham

Industry body Assocham has sought reduction in basic customs duty and correction of inverted duty structure on critical raw materials for the aluminium industry as high import duties is a huge disadvantage for the sector heavily dependent on imported raw materials. In its pre-Budget memorandum 2023-34, Assocham said high import duty on raw materials results in Indian finished goods getting costlier and uncompetitive in international markets, rendering negative protection against cheaper imports of finished products, and discourages domestic value addition within the country. "The average production cost of Indian aluminium producers is amongst highest in the world, majorly due to high incidence of unrebated Central & State taxes and duties on inputs/ raw materials accounting for 18-20 per cent of aluminium production costs," it said. In a bid to improve the cost structure of the Indian aluminium industry and enhance competitiveness, the basic customs duty on critical raw ...

Reduce customs duty on critical raw material for aluminium sector: Assocham
Updated On : 25 Dec 2022 | 11:00 PM IST

Hindalco Q2 profit falls 36% on high energy costs, lower aluminium prices

Consolidated earnings before interest tax depreciation and amortisation (Ebitda) declined by 29 per cent YoY in Q2 to Rs 5,743 crore on higher input costs

Hindalco Q2 profit falls 36% on high energy costs, lower aluminium prices
Updated On : 11 Nov 2022 | 11:22 PM IST

Slowing demand, higher valuation point to weak outlook for Hindalco

Lockdowns in China, energy shortages in Europe and tightening interest rates may have an impact on production, leading to lower supply

Slowing demand, higher valuation point to weak outlook for Hindalco
Updated On : 26 Sep 2022 | 10:21 PM IST

India's manufacturing growth stays robust in Aug, inflation eases

S&P Global's Manufacturing Purchasing Managers' Index dips slightly to 56.2 in August from 56.4 in July

India's manufacturing growth stays robust in Aug, inflation eases
Updated On : 01 Sep 2022 | 10:58 PM IST

Govt won't impose countervailing duty on few Malaysian aluminium imports

Domestic firms had alleged that subsidised imports from Malaysia are causing material injury to them and had requested the imposition of countervailing duties on the imports

Govt won't impose countervailing duty on few Malaysian aluminium imports
Updated On : 05 Jun 2022 | 12:49 PM IST

Here is why Hindalco shares tumbled 6 per cent on Thursday

In Q4, Novelis reported 15 per cent YoY decline in adjusted EBITDA at $431 million primarily due to short-term operational cost challenges.

Here is why Hindalco shares tumbled 6 per cent on Thursday
Updated On : 12 May 2022 | 11:23 AM IST

Aluminium Association of India seeks PMO intervention on coal supply issues

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

Aluminium Association of India seeks PMO intervention on coal supply issues
Updated On : 21 Mar 2022 | 9:38 PM IST

Urgent need for at least 5% remission rate for aluminium sector: AAI

The Aluminium Association of India (AAI) on Wednesday expressed urgent need for at least 5 per cent remission rate for the sector under the tax refund scheme RoDTEP to ensure global competitiveness.

Urgent need for at least 5% remission rate for aluminium sector: AAI
Updated On : 12 May 2021 | 4:52 PM IST

Steel stocks still under the pump, rising iron ore prices pose threat

Tata Steel, JSW Steel, SAIL, Jindal Steel and Power (JSPL) all continued their downtrend and are trading 11-19 per cent lower since the end of April

Steel stocks still under the pump, rising iron ore prices pose threat
Updated On : 17 Jul 2019 | 11:57 PM IST

AAI, secondary aluminium producers lock horns over import duty hike

The Aluminium Association of India (AAI), the apex body representing the entire spectrum of the sector, has refuted charges levelled by secondary producers that it was pressuring the government for increasing import duty on aluminium and scrap by giving wrong figures of shipments. The AAI -- which comprises primary producers, downstream manufacturers and R&D organisations -- has claimed to be working in line with 'Make in India' initiative for removing dependency on imports, saving USD 4.5 billion of forex outgo in FY2017-18 outgo. The secondary producers under umbrella body Aluminium Secondary Manufacturers Association (ASMA) and partners Material Recycling Association of India (MRAI) and the All India Non Ferrous Metal Industries Association (AINEMIA) have accused the Aluminium Association of India (AAI) of building pressure on the government to raise duty on aluminium and scrap by giving wrong import figures at the behest of a few key players to promote their business ...

AAI, secondary aluminium producers lock horns over import duty hike
Updated On : 04 Nov 2018 | 8:59 PM IST

Odisha draws Rs 893 crore investments in downstream aluminium sector

Ancillary and downstream industries have identified as priority sectors in Odisha's IPR, 2015

Odisha draws Rs 893 crore investments in downstream aluminium sector
Updated On : 09 Sep 2017 | 4:59 PM IST

Government to decide on duty protection for aluminium sector

Aluminium sector is facing dumping of products from countries like China

Government to decide on duty protection for aluminium sector
Updated On : 02 Nov 2016 | 5:37 PM IST