According to the International Aluminium Institute’s latest figures, aluminium production in China slipped to 2,724Kt in July, but still accounted for 55% of total monthly world outputs. The daily rate of production decreased to 88kt from 92kt, shrinking by 4% m/m. Actually, announcements of plans to shut capacity mostly came late in July, so we estimate production […]
We sometimes forget that there is another major aluminium-producing country in the world – India. The big three aluminium companies in India have had a torrid time in recent months, especially Vedanta and Hindalco. We reported recently on what was happening with Hindalco – they lost their rights to a coal mine, and found […]
Hindalco, one of the big 3 in India’s aluminium industry, finds itself in a difficult position thanks to a recent government ruling. Hindalco has a joint venture with Essar Power limited to mine coal at the Mahan coal block. Hindalco built its smelter and Essar its power station several years prior and had been mining […]
India increased purchases of anodes from China throughout the first quarter of this year, with 75kt in total. So far, India has already become the largest importer of China anodes, over Malaysia who was the largest importer in 2013. The volumes India took within first quarter 2014 were 80% of 2012 and 65% of 2013 […]
The weakening of the Indian rupee reflects the country’s high current account deficit and lower capital inflows, but Moody’s stated it might not significantly impact India’s foreign debt repayment capacity. The rating agency’s current rating for India is BAA3, the lowest stable investment-grade level. Fitch Rankings and Standard & Poor’s however maintain the outlook as […]
AZ China’s latest India Report, June 2013, focuses on what is happening in India’s economy and aluminium raw materials market. Click the link to download the report.