1. Home >
  2. Export Import News >
  3. Export News >
  4. US sanctions on China help India’s aluminium exports >
  5. US sanctions on China help India’s aluminium exports

Online Export Import Data Search

Complete Training Video : Click Here

US sanctions on China help India’s aluminium exports.

Date: 03-05-2019
Subject: US sanctions on China help India’s aluminium exports
NEW DELHI: Global tailwinds such as the US sanctions on China have helped India raise its exports to the global market, driving up prices locally, feel analysts. 

The US sanctions had helped exports rise in 2018-19 and companies expect this trend to continue in 2019-20. India’s aluminum export to the US in 2018 increased by 58 per cent to $221 million, according to the independent Congressional Research Service (CRS) report in April this year. 

“The demand for Indian aluminium remains firm from the US market due to sanctions on other importers like China. Aluminium-makers from Nalco, Hindalco, Vedanta to us have all increased production of the metal. This has impacted prices,” said BD Garg, executive director, Jindal Aluminum . 

“Domestic prices, which are presently at Rs 146 per 10 kg, are likely to go up to Rs 150-155 per 10 kg by June, looking at the export demand,” said Garg. MCX aluminium is expected to trade positively with good support at Rs 145 per 10 kg and intermediate support at Rs 146.30 per 10 kg. “Buy on dips is advised targeting higher resistance at Rs 149.10,” said Navneet Damani, vice-president, commodity research, Motilal Oswal Financial Services. Damani said industrial activity is expected to pick up with the US and China putting an end to the trade war. However, a drop in global production is going to support prices, he said. 

On LME, aluminum increased by 3 per cent to $1,825 per tonne from January till date. In the same period on the MCX, the metal prices increased by 3 per cent to Rs 147 per 10 kg. “We are expecting appreciation in aluminum prices for the next one to two months with increase in domestic production of electronic and micro-electronic components. Prices can touch Rs 160-165 per 10 kg,” said Anuj Gupta, deputy vice-president of commodity research at Angel Broking. Traders said demand was also coming from car manufacturers who were increasingly substituting steel with aluminium as a base material. 

Source: economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help

What is New?

Date: 14-08-2019
Notification No.60/2019 - Customs (N.T.)
Exchange Rates Notification No.60/2019-Custom(NT) dated 14.08.2019.

Date: 14-08-2019
Notification No. 61/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg.

Date: 14-08-2019
PUBLIC NOTICE NO. 25/2015-2020
Modification of Para 4.12(vi) of HBP and addition of Appendix 4P to Hand Book of Procedures 2015-20 – reg.

Date: 13-08-2019
Notification No.59/2019 - Customs (N.T.)
Exchange Rates Notification No.59/2019-Custom(NT) dated 13.08.2019.

Date: 13-08-2019
Instruction No. 03/2019-Customs
Recovery of Export benefits given under incentive and Reward Schemes under Chapter 3 of FTP on re-import of export goods.

Date: 10-08-2019
NOTIFICATION No. 32/2019-Customs (ADD)
Seeks to impose anti-dumping duty on imports of "Homopolymer of vinyl chloride monomer (suspension grade)" originating in or exported from China PR and USA for 30 months with effect from 13th August, 2019, in pursuance of SSR investigation by DGTR.

Date: 08-08-2019
Notification No. 57/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver.

Date: 08-08-2019
Trade Notice 29/2019-20
Online filling of applications for claiming assistance under Transport and Marketing Assistance (TMA) for Specified Agriculture Products Schem

Date: 08-08-2019
Notification No. 58/ 2019-Customs (N.T.)
Further amending Notification No. 12/97-CUSTOMS (N.T.), dated the 2nd April, 1997

Date: 08-08-2019
Circular No. 24/2019-Customs
Clarification regarding applicability of All Industry Rates of duty drawback while fixing Brand Rate of duty drawback in post GST era.

Exim Guru Copyright © 1999-2019 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.


C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001