Union Budget 2016-17: Impact on Metals & Mining

Export duty on chromium ores and concentrates reduced from 30% to NIL.

Mar 01, 2016 05:03 IST India Infoline News Service


Metals & Mining – Neutral
Key Announcement Impact
Customs duty for aluminium raised by 2.5% Positive for aluminium producers like Hindalco, NALCO and Vedanta
Customs duty for zinc alloys raised by 2.5% Positive for zinc producers like HZL and Vedanta
Export duty on iron ore lumps & fines below 58% Fe content to NIL Positive for low grade iron ore mines in Goa. Marginally positive for Vedanta
Clean energy cess on coal increased from Rs. 200/ton to Rs. 400/ton Negative for companies consuming domestic coal like NALCO, Vedanta, Hindalco, JSPL, JSW Steel
Export duty on bauxite reduced from 20% to 15% No impact
Export duty on chromium ores and concentrates reduced from 30% to NIL Marginal positive for MOIL
Increased outlay in infrastructure spending Would lead to higher metal demand. Positive for all metal producing companies

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