查看更多>>摘要：As predicted in our last week's report copper and aluminium moved sideways and attempted clearing key resistance of 1620s dollars and 1420s dollars respectively. However, latest numbers from US, including US Equities, did not assist base metals at all as copper and aluminium slid back towards 1600s dollars and 1390s dollars.Going by the market sentiment, it is difficult to be extremely bullish. Moreover, if the current economic scenario continues along with worries of inflation arising mostly out of possibly higher oil prices, the fundamentals may take a further knock. Having said that, it looks unlikely that a severe whacking for base metals is around the corner as currency and interest rate movements may provide investment opportunities for funds and lend a floor to the market short term.
查看更多>>摘要：London Metal Exchange base metals in Asia were steady with some buying interest for benchmark three-month aluminium in arbitrage-related activity by the Japanese.Yen strength against the dollar encouraged the Japanese to sell yen-denominated aluminium futures contracts on the Tokyo Commodity Exchange and buy LME aluminium contracts, Tokyo-based traders said. But trade in Tokyo has been light ahead of a long period of public holidays to celebrate the Golden Week in Japan, which will begin Monday. Japanese businesses will resume Tuesday May 7. Japanese financial markets will be closed April 29, May 3 and May 6.
查看更多>>摘要：These concerns come in the wake of an announcement last week by U.S. aluminium giant Alcoa that it intends to gradually restart two lines of idle capacity at the Ferndale, Wash., (Intalco) smelter over the course of the year. The restart should result in an additional 95,000 metric tons of production this year, of which 58,000 (or 61 percent) is Alcoa's share.
查看更多>>摘要：Copper prices began the year buoyed by bullish hopes that supply and demand would be well aligned this year amid an imminent global economic recovery, says David Rinehimer, Salomon Smith Barney's precious-metals analyst. Although prices have rallied 10 percent this year to a recent 73 cents per pound, supplies continue to accumulate faster than demand, which simply hasn't recovered despite news that U.S. industrial production growth is quickening. Stockpiles have more than doubled in the past year.Result: The near-term outlook remains grim. "We haven't seen the lows yet," says Rinehimer. "The market is vulnerable to break under 70 cents per pound." John Tumazos, a Prudential Securities metals analyst, agrees; "I think the copper market is ugly this year." Yet, looking to year end, copper's prospects looks much healthier. In fact, "it has the best outlook of any commodity," says Tumazos. Scrap-metals dealers Jack Epstein, the president of Timpson Trading, is seeing signs of market tightening. Epstein says he is beginning to see that "scrap prices are tightening in all grades of copper," driven partly by the strength in the housing-renovation market.
查看更多>>摘要：The government has approved the amalgamation of International Aluminium Products (IAPL) with National Aluminium Company (Nalco). The order had been issued under section 396 of the Companies Act. The department of company affairs (DCA), which approved the amalgamation, said in a release that the orders followed resolutions passed by the board of directors of the two companies to this effect. Through this amalgamation, the shares and equity capital of IAPL, along with all its assets and liabilities, had been merged with Nalco, it said.
查看更多>>摘要：China's rapid rise in aluminium output could pressure spot premiums of imported aluminium over the LME cash price lower from the current level, an analyst at state-owned Antaike Information Development Co. said. Spot aluminium premiums of Good Western brands have been stuck in a range of 45 dollars - 50 dollars a metric ton since the fourth quarter of 2001, compared with 50 dollars - 60 dollars/ton earlier last year. All premiums are on a cost, insurance and freight basis to main Chinese ports.
查看更多>>摘要：Russia's largest aluminium producer Russky Aluminy has reached preliminary agreements with a number of Japanese end users, most notably Mitsui, to considerably increase aluminium exports to Japan, General Director of the Bratsk Aluminium smelter Alexey Barantsev said. In 2001, Russky Aluminy exported 380,000 metric tons of primary aluminium and 6,400 tons of aluminium alloys to Japan. Barantsev didn't say what exports would be increased to.
查看更多>>摘要：The Economic Times dated Aril 22 reported that many global major meta and mining companies are not likely to participate in the government's disinvestments in Hindustan Copper (HCL), as they feel that HCL's capacity is too small. This is contrary to the rush observed in the disinvestments of Hindustan Zinc, when almost all top global companies had vied for the government's 26 per cent stake.
查看更多>>摘要：Chinese dry cell batteries are giving the home grown brands a run for their money. In spite of stiff anti-dumping duties imposed by India, the Chinese dry cell batteries continue to enter through the Kolkata and Mumbai ports. Ballpark estimates show that Chinese brands like Durabat, Sonic, Kingsun, Golden Power, Anchor and Rotosonic have cornered a significant market share of anywhere between 10-15 per cent of the AA segment. The total organised market size of the carbon zinc AA segment, commonly called the "pencil battery", is around 700 million pieces annually, which in turn a third of the total carbon zinc battery market of various sizes.
查看更多>>摘要：Despite the September 11 attack and the US economic slowdown, Indian gem and jewellery exports could achieve the revised target at 7.3 billion dollars during 2001-2002, thought it is marginally lower than the previous year's. The US has for many years been the major buyer with a share of more than 38 per cent.According to the Gems and Jewellery Export Promotion Council (GJEPC), during the year total exports of gems and jewellery were at 7.531 billion dollars compared to 7.779 billion dollars in 2000-2001, registering a decline of 3.19 per cent. Mr Sanjay Kothari, Chairman, GJEPC, said: "The exports of the sector during January - March 2001-2002 registered a growth of 15.67 per cent at 2,419.56 million (2,091.74 million).
NSTL