查看更多>>摘要：Copper rallied on the news that Canadian base metals miner Noranda Inc. is to permanently close its Gaspe copper smelter, located in Murdochville, Quebec, effective April 30. Three-month metal touched a high bid of 1,657 dollars a metric ton on the news, with players forgetting that to a certain extent this had already been factored into prices when the company announced on Nov. 30, 2001, that it would temporarily close the smelter for at least a six-month period in response to extremely weak market and economic conditions. Closing the kerb at 1,652 dollars/ton (bid), dealers said the upside is favoured near-term with 1,670 dollars/ton the next key target. Nonetheless, given the closure of the London Metal Exchange Friday and Monday for the long Easter holiday period, dealers said most players have been book squaring.
查看更多>>摘要：Readers of this report will appreciate that we had accurately predicted movements of aluminium and copper price last week. As predicted, aluminium held 1380 dollars-1390 dollars support and copper bounced back from early 1600s dollars. Rest of the metal were steady to modest losers.I expect copper and aluminium to steady further this week. However, unless good economic numbers are gleamed from the US a tearaway rally looks unlikely for the minute, and if it happens, it may present short term selling opportunities. In the recent past, copper has struggled in 1670s dollars and aluminium in 1450s dollars. These levels are likely to come under selling/profit taking pressure. Rest of the metals are likely to be mixed to mildly positive.
查看更多>>摘要：Lower copper concentrate output this year coupled with anticipation of rising demand in the electronics and information technology sector, will provide copper the much-needed support, analysts and market participants said. Mitsubishi Corp., Japan's leading trading company, projects the LME three-month copper to average 1,700 US dollars/ton in 2002 and that prices will hit 1,750 US dollars/ton in the second half. LME three-month copper averaged 1,587 US dollars/ton last year. UBS's Lawcock is more bullish, projecting the LME copper cash price to hit 1,795 US dollar/ton by year-end, while CBA's Thurtell gives forecasts copper's cash, price to hit 1,700 US dollars/ton. Lawcock's greater optimism in copper is based on the metal's new supply.
查看更多>>摘要：Japan's total aluminium demand is expected to recover by 0.5 percent to total 3.81m tons. The forecast, announced by the Japan Aluminium Assn (JAA) is based on inputs from a slew of industry associations, including the alloy refiners. According to the forecast, total rolled product demand will grow by 1.8 percent to 1.07m tons during fiscal 2002 - compared with a 6 percent decline between 2000 and 2001 - while extrusions demand will dip by 1.3 percent to 968,000 tons, a far less painful result than the 10.1 percent plunge predicted for the current fiscal year ending March 31.
查看更多>>摘要：Aluminum Association of India (AAI) the open body of the aluminium industry at its Annual General Meeting held at Bangalore on 15th March 2002 announced that Dr. S K Tamotia, President & CEO of Indal was elected honorary President and Prof. K S Murthy, Emeritus Fellow, IISc was elected Honorary General Secretary.At the AGM, Dr. S K Tamotia said that the prime objective of the Association would be augmenting growth of the Indian aluminium industry and increasing consumption of aluminium in the country. In this context, he pointed out that the Association and its members must evolve appropriate action plans to develop new end-uses and upgrade technology so as to meet the global challenges particularly in the context of WTO.
查看更多>>摘要：Canadian base metals miner Noranda Inc. announced that it will permanently close its Gaspe copper smelter, located in Murdochville, Quebec, effective April 30, 2002. Noranda had previously announced on Nov. 30, 2001, that it would temporarily close the smelter for at least a six-month period in response to extremely weak market and economic conditions. In 2001, the smelter produced 109,000 metric tons of copper in anodes and 220,000 tons of sulphuric acid. The smelter employs about 300 active employees.
查看更多>>摘要：Sterlite Industries Limited has bought the 26 percent stake in HZL for Rs 4.45 billion which works out to Rs 40.45 for Rs 10 equity share of the company. Sterlite has offered to buy another 20 percent of stake at the same price and has also the option for another 5 percent from the government to take its holding to 51 percent. But with 26 percent stake, Sterlite will get management control of the company.There were two contenders for HZL, Indo Gulf Industries, an Aditya Birla Group Company and Sterlite Industries. Both the companies quoted over the reserve price of Rs 3.53 billion. To start with, there were other big names wanting HZL like Glencore, Metdist-Phelps Dodge, Binani and Korea Zinc, and Bhushan Steel. All of them dropped out over a period of time. The declining prices of zinc in the world market with no possibility of a scarcity of supplies plus the reduction in customs duty on zinc from 35 percent to 25 percent in the latest budget, discouraged the potential bidders.
查看更多>>摘要：Russia's largest nickel, copper and precious metals producer Norilsk Nickel will supply in the first six months of 2002 7,000 metric tons of copper-nickel alloy to the Moscow State Mint for the production of Indian 5-rupee coins, Norilsk Nickel said. The alloy will be supplied by the Kola Mining and Metallurgical Company, which is part of Norilsk Nickel. Since the Moscow Mint won the tender to produce Indian coins in 1999, Norilsk Nickel has supplied 23,000 tons of the alloy, which contains 74 percent copper and 25 percent nickel.
NSTL