Aluminium, one of the major industries in the base metal sector, is moving fast may surpass the tensile strength of steel and share the leading position with steel.
Rain CII has signed an agreement with Triton Partners, a European private equity fund that owns Rutgers.
The government may tweak customs duties in the Budget next week on several goods, including furniture raw materials, copper scrap, certain chemicals, telecom equipment and rubber products, to promote domestic manufacturing and exports, sources said. They said that while import duties could be tweaked on over 20 products such as cut and polished diamonds, rubber goods, leather garments, telecom equipment and carpet, the customs duties could be removed on select raw materials (like wood in rough, swan wood and hard board) used for furniture manufacturing and copper concentrate.
Union Budget 2014-15 is positive for metals and mining companies.
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