Aluminium Import Duty Hikes to 7.5%: Jaitley


Gold Silver Reports – Metal sector bleeding from rising production cost, weak demand and cheap import from China are upset at the Budget as the plea from Aluminum Industries to increase import tariff to double from 5% to 10% to support the local players have gone unheard.

India, worlds second largest producer after china, could only benefit when global market starts uplifted, Hence support would be seek from government. Government of India has mounted the custom tariff from 5% to 7.5% in respect to the industries demand.

Imposing the duty hike to reduce import may help to sectors like power, transport and construction. The rise was not meeting the expectation yet the industry has welcomed the decision. Aluminum at MCX has recovered from day’s low. In equity stocks like Tata Steel, JSW Steel, and NMDC were also trading in green after the hike.

Excess availability of the metal as a result of surplus production, particularly in China, has dragged international aluminium prices to its present low levels. Price of aluminium traded in the London Metal Exchange (LME) fell to its six year low of $ 1428/MT in December 2015, before regaining some stability between $ 1480 –1530/MT in January –February 2016.

In the domestic market, apparent aluminium consumption grew at a healthy 12% during H1FY2016 on an annualized basis, driven mainly by the power transmission sector. While the healthy demand growth was matched by a strong domestic aluminium production growth as well, following the ramp up of production at some of the greenfield smelters commissioned in the last couple of years, a significant share of the domestic market continues to be catered to by imports both in the forms of scrap as well as ingots. Consequently,domestic manufacturers remain exposed to the threat of imports. – Neal Bhai Reports

  • डॉलर के मुकाबले रुपये में शानदार रिकवरी आई है। 1 डॉलर की कीमत 68 रुपये के नीचे तक आ चुकी है। ऐसे में घरेलू कमोडिटी बाजार पर बड़ा असर पड़ा है। सोने की शुरुआती तेजी पर भी ब्रेक ल गया है। फिलहाल एमसीएक्स पर सोना 0.1 फीसदी की मामूली बढ़त के साथ 29550 रुपये पर कारोबार कर रहा है। चांदी दिन की सारी बढ़त गंवाकर 36100 रुपये के नीचे आ गई है। हालांकि एमसीएक्स पर कच्चा तेल 0.8 फीसदी बढ़कर 2340 रुपये पर कारोबार कर रहा है, लेकिन नैचुरल गैस 1 फीसदी गिरकर 116.9 रुपये पर नजर आ रहा है।

    • बेस मेटल्स की कमजोरी कम होती नजर आ रही है। एमसीएक्स पर कॉपर 0.1 फीसदी की कमजोरी के साथ 325 रुपये के आसपास नजर आ रहा है। एल्युमिनियम की चाल सपाट हो गई है, जबकि निकेल 0.4 फीसदी बढ़कर 588 रुपये के ऊपर पहुंच गया है। लेड में 0.1 फीसदी की बाकी है, जबकि जिंक 0.3 फीसदी बढ़ गया है। वहीं एग्री कमोडिटी में हल्दी में तेजी जारी है लेकिन खाने के तेलों में गिरावट आई है और सोया तेल का दाम करीब 0.5 फीसदी फिसल गया है।


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