
Smouldering Hot – For Now
India's biggest iron ore producer NMDC, has hiked prices for the first time in the current fiscal (FY24).
India's biggest iron ore producer NMDC, has hiked prices for the first time in the current fiscal (FY24).
U.S. arm Novelis reports revenues of $4.1 billion, impacted by lower average aluminium prices and subdued shipments.
Indian steel and aluminium exporters will see their market access restored by the U.S.
Prices have plunged around 45% from the March 2022 peak to around $2,400 per tonne, driven by Chinese lockdowns and easing supply concerns.
This is also the largest global greenfield expansion project of the Aditya Birla Group.
The BSE Metal index was the top performer on the sectoral front with a 4.5% gain, led by Hindalco, Jindal Steel, Tata Steel, JSW Steel, SAIL, Vedanta and Hindustan Copper.
Kumar Mangalam Birla’s Hindalco seeks to expand into high-value aluminium downstream products in industries like aerospace with the acquisition, which faced regulatory hurdles
Corporate revenue growth seen around 5-6% in the first quarter of FY20 because of a broad-based slowdown in consumption.