Topic
aluminium
Commodities How Scrap Is at the Centre of India’s Changing Metals Growth Story
India's next metals growth cycle will be driven by recycling rather than mining, with scrap emerging as the industry's most strategic resource, according to a thematic report by Ashika Institutional Equities. The report highlights regulatory support, growing demand from electrification, and the shift from informal to organised recycling as key drivers.
Trade Downstream aluminium industry urges duty cut on primary aluminium and scrap to restore competitiveness
Downstream aluminium manufacturers have urged the Centre to reduce customs duty on primary aluminium and aluminium scrap, stating the current duty structure is hurting MSME competitiveness. In a joint representation to the mines ministry, industry bodies cited an effective import duty of 8.25% on primary aluminium and 2.75% on scrap, which has compressed margins by up to 70% and pushed input costs up 20-35% in the last three months. The associations also flagged the EU's Carbon Border Adjustment Mechanism as a future threat.
Business Alcoa Acquires South32's Aluminium Assets in $4.1 Billion Upfront Deal
Alcoa has agreed to acquire South32's bauxite, alumina, and aluminium assets in Australia, Brazil, and South Africa for $4.1bn upfront, with potential contingent payments of up to $750m. The deal, valued at up to $5.6bn enterprise value including assumed debt, will boost Alcoa's pro forma production and deliver $900m in synergies. South32 will reshape its portfolio toward base metals, with 85% of pro forma EBITDA coming from base and precious metals post-completion. The transaction is expected to close in H1 2027.
Trade Aluminium Association Urges PMO to Protect Indian Industry from Surging Low-Quality Scrap Imports
The Aluminium Association of India (AAI) has appealed to the Prime Minister’s Office to protect the domestic industry from a surge of low-quality aluminium scrap imports. Imports hit 3.48 million tonnes in FY26, causing a forex outgo of over ₹88,400 crore. AAI urges higher basic customs duty, publication of a quality standard, and grade-wise HSN codes to curb imports.
Commodities Aluminium Association Urges PMO to Protect Indian Industry from Surging Low-Quality Scrap Imports
The Aluminium Association of India (AAI) has appealed to the Prime Minister's Office to protect the domestic aluminium industry from a surge of low-quality scrap imports. Imports reached 3.48 million tonnes in FY26, with a forex outgo of over ₹88,400 crore. The association is seeking higher basic customs duty and publication of quality standards to curb low-grade scrap inflows.
Commodities Adani and IHC form $11.5 billion joint venture for integrated aluminium project in Odisha
Adani Group and International Holding Company (IHC) of Abu Dhabi have formed an equal joint venture to build an $11.5 billion integrated aluminium complex in Odisha, India. The project includes a 4-million-tonne alumina refinery, a 2-million-tonne aluminium smelter, a 1-million-tonne downstream facility, and a 4,000-MW captive power plant. Adani Enterprises also launched a $1 billion QIP to support the venture.
Commodities Downside Limited for Aluminium and Copper Declines Fundamentally, Analysts Say
Aluminium and copper prices have fallen 17.5% and 6% respectively in the past month, but analysts from BMI, ING Think, and Sunsirs see limited downside due to supply deficits, Middle Eastern supply disruptions, and resilient demand. Aluminium is at $3,100/t (up 3% YTD) and copper at $13,300/t (up 7.5% YTD) on the LME.
Commodities West Asia Outages to Keep Aluminium Market Tight Near-Term, Says Goldman Sachs
Goldman Sachs forecasts elevated aluminium prices near-term due to prolonged West Asia outages, but expects a surplus in 2027 as Indonesian and Chinese output ramp up. The bank downgraded West Asia output by 660kt in 2026 and 1Mt in 2027, and raised LME price forecasts to $3,300/t for Q3 2026 and $2,950/t for 2027.