查看更多>>摘要：The Anil Agarwal-promoted Sterlite Industries has posted a flat profit after tax for the quarter ended March 31 at Rs 328.8 million compared with Rs 321.1 million in the same period last year. It has also changed its financial year ending form June to March and accordingly fiscal 2002 is a nine month period. The board has deferred a decision on the recommendation of dividend for the nine-month ended March, 31, 2002 in view of the pending scheme of arrangement for purchase of equity shares of the company. Its turnover, however, has jumped 38 per cent rise in turnover for the quarter ended March 31, 2002 at Rs 9.23 billion (Rs 6.68 billion). The profit before interest, depreciation and tax increased by 33 per cent at Rs 1.12 billion compared with a PBIDTA of Rs 843.5 million in he previous corresponding quarter.
查看更多>>摘要：Domestic aluminum output in May totalled 56,886 metric tons, down 1.2 percent compared with 57,594 tons target, a government release said. The output fell despite higher production by Hindalco Industries compared to the target. Output of all other companies fell short of target. Following is the output for the major aluminium companies in May, compared with their targeted production figures for May 2002. All figures are in metric tons.
查看更多>>摘要：The country's copper output in May fell 13.9 percent to 28,485 metric tons compared with a 33,097 tons target, according to a government statement. Production at all three copper-producing companies were below target. Following are output figures for the companies in April, compared with their targeted output figures in metric tons.
查看更多>>摘要：Swiss Glencore International has no plans to restart idled capacity at Evergreen Aluminium LLC, the new name given to recently acquired independent aluminium producer Vanalco Inc, according to a spokeswoman for Glencore. The deal to buy the Vancouver, Washington-based smelter was completed on April 25 after objections to the sale over dock rights by its former owner Alcoa were resolved.
查看更多>>摘要：Primary aluminium output in the US is on an uptrend. In May, the output was up 1.8 percent from April and the annual rate of production is pegged at 2.68m tons by the aluminium association. Reports suggest that the main reson for the increase in output is the restart of the Alcao Intalco plant and Columbia falls. Further increases are likely in the next few months; as it will take a while for those plants to start up again.
查看更多>>摘要：Most telecom cable produces are expected to report losses in 2002-03 due to a significant decline in sales volume, cable prices and an increase in competition, according to Cris Infac's report on the sector. The report points out that the decline in the operating losses is primarily on account of a 51 per cent dip in the main order from Bharat Sanchar Nigam Ltd (BSNL) and a 19 per cent decline in jelly-filled telecom cables (JFTC) prices. JFTC accounts for 78 per cent of telecom cables and the remaining 22 per cent share is held by optical fibre cables. The demand for JFTC is expected to lower from 546 lakh core kilometre in 2001-02 to 243 lakh core kilometre by 2006-07. Consequently, the share of JFTC is expected to decline to 45 per cent by 2006-07. The demand has nose-dived as BSNL is targeting the use of wireless access system for a significant part of its telephone installations considering the ease and lower installation costs of the system in rural areas.
查看更多>>摘要：India's primary aluminium output in the fiscal year ending March 2003 is likely to rise to 720,000 metric tons, a 13 percent increase from the previous fiscal year, according to the Aluminum Association of India. India aluminium production accounts for around 3 percent of global output. Increases in capacity at India's three major aluminium producers-Hindalco Industries Ltd, National Aluminium Co. Ltd, and Indian Aluminium Co.-are the main drivers of India's higher aluminium production, a spokesman of the association said. The Indian government's aluminium output data showed lower-than-expected output in May of 56,886 tons, 1.2 percent off the government's target.
查看更多>>摘要：China's monthly imports of refined copper in the second half of the year should recover from its recent monthly lows to average at least 80,000 metric tons, Minmetals Information Center's senior economist Zhou Feng said. Demand for copper in China, the world's second largest copper consumer, and not arbitrage activity, will spur imports, Zhou said. Minmetals Information Center is a unit of state-owned China Minmetals Non-Ferrous Metals Co. ltd., one of the largest copper importers in China. When prices of copper futures on the Shanghai Futures Exchange are significantly higher than prices on the London Metal Exchange, Chinese market participants would carry out an arbitrage activity-simultaneously selling SHFE copper futures and buy on LME to profit from such price gaps. They would then deliver against their short futures positions on SHFE, by shipping metal from the the LME warehouses in Singapore. Copper imports at the start of the year were high because of arbitrage activity, Zhou said.
查看更多>>摘要：Midyear benchmark treatment and refining charges for copper concentrates for Japanese and South Korean refined copper produces are 16 percent lower at 64 US dollars a metric ton and 6.4 U.S. cents a pound, respectively, South Korea's LG Nikko Copper Inc. said. The decline in midyear TC/RC benchmark is due to tight concentrate supplies in the world market on output reduction by major miners this year, G.H. Lee, the company's vice president said. The July 2002 to June 2003 TC/RC benchmark, known as the midyear benchmark, is sharply lower than 76 US dollars/ton and 7.6 U.S. cents/lb for the July 2001-June 2002 period. Lower TCs and RCs translate into lower revenues for refined copper producers.
查看更多>>摘要：South Korea's LG Cable Ltd. plan to seek at least 4,000 metric tons of standard copper in a tender next week, a company official said. "Next weeks' tender will be for at least 2,000 tons each month for September and October," the official in charge of procurement said, adding the company will issue a tender July 2 or July 3. "We expect premiums (over the London Metal Exchange cash price) to be like last time, around 20 US dollars/ton," the official said. In May, LG Cable bought 3,500 tons of standard copper at premiums around 20 dollars/ton, cost, insurance and freight to Pusan, and an additional 3,000 tons of Grade-A copper at premiums around 37 US dollars-38 dollars/ton, CIF Pusan. The company plans to evaluate the copper market condition July 4, when it announces the result of the tender, the official added.
NSTL