Three of the top five automakers - Maruti Suzuki, Tata Motors and Mahindra & Mahindra – have signaled that price revision could be on the cards if commodity costs do not ease out before end of this quarter.
The tariff was announced Friday by the US following concern that China was undercutting American manufacturers by flooding the country with underpriced aluminium products.
The first consignment of the product was flagged off at NALCO's Smelter Plant in Angul yesterday, the company said in a statement today.
That could fuel concerns the world's top steel producer will export more metal, stoking global oversupply and fanning tensions with the United States after it accused the nation of flooding international markets with cheap aluminium and steel.
"Iran's proposal is attractive as long as gas prices are attractive, but not much of an indication in that area has come," Chairman Tapan Kumar Chand told Reuters.
In an interview to CNBC-TV18, Tom Albanese, CEO of Vedanta spoke about the latest happenings in his company and the sector.
Demand for base metals in the domestic market is likely to remain positive on long-term basis due to investments in infrastructure projects, a report said.
India's iron ore production is likely to have increased by 28 per cent to 200 million tonnes during the 2016-17 fiscal, a top official said today.
The Aluminum Association filed antidumping and countervailing duty petitions with the Department of Commerce and the International Trade Commission charging that unfairly traded imports of certain aluminium foil from China are causing material injury to the domestic industry.
Research firm has a overweight call on the stock, citing the company being fastest-growing aluminium and zinc firm in the world; sees risks to balance sheet going down.
"With the aluminium market firming up, the Navaratna PSU foresees sunny days ahead and plans to increase cast metal production by 12 percent in the next fiscal," National Aluminium Company Ltd (Nalco) said.
Domestic aluminium makers want minimum import price (MIP) to protect against surge of cheap imports, but the commerce ministry â€œcautiousâ€ as move may not be strictly WTO-compliant
In an interview to CNBC-TV18, TK Chand, CMD of National Aluminium Company (NALCO) spoke about the results and his outlook for the company.
The Centre is mulling taking more measures to safeguard the interests of the aluminium industry, a Parliamentary Panel said today.
The duty was slapped on 'pre-painted, colour coated or organic coated flat steels in coils or not in coils whether or not with metallic coated substrate of zinc, aluminium-zinc or any other substrate coating, excluding plates of thickness 6mm or more'.
The government today said that it is considering imposing a minimum import price (MIP) on aluminium, a move that may help stem a rise in cheaper shipments coming from overseas, hurting domestic manufacturers.
Last month, a government body decided against imposing safeguards on some aluminium products citing lack of evidence over imports hurting profitability of domestic industry.
After a record 18 per cent growth in bauxite mining, aluminium major Nalco plans to raise its production capacity to over 73 lakh tonnes this fiscal from about 68 lakh tonnes.
Base metal prices had strengthened steadily earlier in the first nine months of 2016 as a result of the deficits in the global base metal demand-supply balances, apart from some positive sentiment on China's overall demand scenario, ICRA said in a report.
The MoU will facilitate NTPC Ltd and National Aluminium Company Limited (NALCO) to set up a joint venture (JV) company to establish the power project at Gajmara, Dhenkanal, Odisha.
SP Tulsian of sptulsian.com in an interview to CNBC-TV18 shares his rationale for not being positive on Nalco and Sun Pharma.
The company will increase prices of its passenger vehicles starting from Rs 5,000 up to Rs 25,000 depending on the model due to various macro-economic factors.
However, ahead of the price hike, the company is undertaking a campaign offering benefits on road financing, EMI holidays like 'buy now and pay in March 2017' on all its models and a special EMI package of Rs 22,999 in select models of Innova Crysta.
The company plans to expand the capacity of its Lanjigarh alumina refinery to 5 million tonnes from the current 2 million tonnes and double the capacity of its Jharsuguda aluminium smelter to 2 million tonnes.
EBITDA, in Q2, was up 88.2 percent at Rs 1156.4 crore against Rs 614.5 crore while EBITDA margin stood at 12.1 percent versus 6.4 percent year-on-year (YoY).