查看更多>>摘要：As forecast by this report, copper tested 1700 dollars/mt after clearing 1675 dollars/mt. So far aluminium has hesitantly followed and is perched just under 1400 dollars/mt. I have some good and bad news and lets start with good one first. Copper looks firmly into an up-trend and a return to 1625-50 dollars range may present long term buying opportunity. Similar for aluminium in the light of a firm copper, return to 1350s dollars may present short to medium term buying opportunity. Now the bad news and that is, unless copper tests 1750-75 dollars in the next one month, there is distinct possibility of a fund sell off and return to above mentioned 1625-50 dollars range, that readers will note is where long term buying opportunity would exist. Similarly for aluminium loss of 1350 dollars/mt in the background of overall weak base metals complex may hurtle it towards 1300 dollars/mt.
查看更多>>摘要：A hefty stock rise and another fall for the equity markets forced aluminum at the London Metal Exchange down to test support at 1,390 dollars a metric ton, and even bullish employment data from the U.S. failed to lift the market off.Aluminum inventory levels in LME warehouses jumped a massive 25,275 tons, setting the negative tone for the day with funds and banks keen to lock in profits after the gains of the last week.
查看更多>>摘要：The aluminium industry has set a production target of about 7.2 lakh tons ingot for fiscal 2002-03 as against a combined production of about 6.37 lakh tons recorded in 2001-02.s The quantum jump in production will happen as the three major aluminium producing companies in the country are in for major capacity expansion in the current fiscal.According to the The Aluminium Association of India (AAI), the State-owned National Aluminium Company Ltd (Nalco), the A.V. Birla group controlled Hindalco Industries Ltd (Hindalco) and Indian Aluminium Company Ltd (Indal) will jointly put up new capacity of about 2.42 lakh tons in their smelters. Of the new capacity to be added, Nalco's share will be about 1.15 lakh tons, Hindalco's will be about one lakh tons and Indal's share will be 27,000 tons. The smelter capacities at Bharat Aluminium Company Ltd (Balco) and Madras Aluminium Company Ltd (Malco) will remain unchanged.
查看更多>>摘要：Aluminum edged closer to the critical 1,400 dollars a metric ton support level as a 25,275 tons rise in London Metal Exchange warehouse stocks took the market by surprise and dampened the market's recently improved sentiment.The rises were mostly seen in Hamburg, with the balance in Singapore, taking total LME aluminum stocks to 1,168,900 tons. In the currently lackluster demand environment, dealers said the rise in likely to see three-month metal target the 1,390 dollars/ton level, below which sell stops are located and a move to 1,380 dollars/ton seen possible. The fund buying that held prices above 1,400 dollars/ton and had looked set to keep momentum on the upside has now been erased, dealers added.
查看更多>>摘要：Taiwan's biggest aluminum consumer, C.S. Aluminium, has agreed to buy 8,000 metric tons of Good Western aluminium ingots for third-quarter usage in this week's tenders at premiums around 45 US dollars - 48 US dollars a ton, a senior official of the company said.Premiums are quoted over the London Metal Exchange cash price, on a cost, insurance and freight basis to Kaoshiung. C.S. Aluminium's premiums are in line with Japan's expected third-quarter fixed premiums. Although negotiations between Japanese trading companies and international suppliers - mostly Australian - are still ongoing this week, some Japanese trading companies have reported that the concluded premiums are in the 45 US dollars - 48 US dollars/ton range. Five aluminium producers won the tenders, but the official declined to identify the companies.
查看更多>>摘要：Alcan Inc. plans to form a joint venture with Qingtongxia Aluminium Co. of China to operate its smelter. The proposal would give Alcan a 50 percent stake in the 130-kilotonne smelter and the option to acquire a 50 percent interest in the planned and approved 150-kilotonne expansion of the smelter, the company said in a news release.
查看更多>>摘要：Companies are now gearing up to acquire SWIL, which has the country's third largest copper smelter. Promoted by the Khaitan's SWIL is also the largest secondary copper smelter which uses a blend of both copper scarp and concentrate to make finished products. The copper cum refinery project is in Bharuch in Gujarat. Currently, Indo Gulf, Sterlite and the lord Raj Bagri promoted Metdist are in a race to acquire the company. Metdist is also said to be a hot contender for Hindustan Copper.
查看更多>>摘要：Zambia's copper deposits are again under the spotlight with the country's president Levy Mwanawasa saying that three international mining companies are interested in acquiring Anglo American's recently mothballed assets. Mwanawasa told a World Economic Forum meting in the South African city of Durban that three groups have officially expressed interest in Konkola Copper Mines which produces around 240,000 metric tons of copper annually. Anglo American announced in January it would withdraw from Zambia due to poor copper prices and higher than expected capital costs.
查看更多>>摘要：South Korea's major cable producer Taihan Electric Wire Co. Ltd. plans to issue the year's first spot tender for copper cathodes in mid-July, a company official said. "The amount will be at least 2,000 metric tons," said Geun Hong Park, Taihan's purchasing manager, adding that delivery will be in September. The planned purchase can be either Grade A copper cathodes or those with quality equivalent to Grade A, Park said. Grade A cathodes refer to electrolytic copper metal with high purity and registered with the LME.
查看更多>>摘要：State-owned mining giant Corporacion Nacional del Cobre de Chile, or Codelco, will maintain its current copper production targets for this year, local daily El Mercurio reported. There has been speculation that Codelco might follow the lead of Anglo-Australian mining giant BHP Billiton ltd. (BHP), which announced last week that it will continue to cut its copper production due to the weak world demand. BHP Billiton decided to cut production at its Chilean Escondida mine an extra 80,000 tons through the end of the 2002, on top of the 170,000-ton cut it first announced in November 2001.
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