查看更多>>摘要：If roller coaster is your idea of a good time then you will enjoy the current happenings in the international market. Copper failed to build upon the gains above 1700 dollars/mt. But this party is far from over. US equities have taken one bad news after the other on their chin and have one bad news after the other on their chin and have avoided a much anticipated sell-off. The US dollars refuses to roll over and is correcting only gradually downwards, however, it is worth mentioning that the Bank of Japan has repeatedly intervened as and when JPY has appreciated against the US dollars.In spite of decrease in consumer spending and fall in consumer confidence in US in May the economy still has some positives like slight increase in industrial production and far from worse un-employment situation. I remain positive on base metals especially in copper where the concentrate market is expected to tighten further. I fell that dips towards early 1600s dollars will present good long term buying opportunity. In short term copper needs to regain 1675 dollars by this week in order to avoid further fund liquidation.
查看更多>>摘要：Financial Institutions and banks have suspended credit to the Pennar Group companies- Pennar Aluminium and Pennar Profiles Ltd. As a result the companies are unable to procure raw material to run their plants at reasonable levels of capacity utilization. Both the companies are now awaiting clearances from the operating agencies appointed by the Board for Industrial and Financial Reconstruction (BIFR) for their revival by two of the foreign giants in the global aluminium market.
查看更多>>摘要：Japan's record low primary aluminium stocks have promoted trading companies to conclude third-quarter aluminium premiums in a range of 45 dollars-48 dollars a metric ton, Japanese trading companies said. Market participants had expected premiums to rise following the report on record low primary aluminum stocks. All premiums are quoted over the London Metal Exchange cash price on a cost, insurance and freight basis to main Japanese ports. The third-quarter premiums are 10 dollars/ton higher that those in the second quarter, and marks the first rebound since last year. Japan's quarterly aluminium premiums started falling in the first quarter of 2001 to 67 dollars-68 dollars/ton, down from 73 dollars-74 dollars/ton in the previous quarter.
查看更多>>摘要：STEEL RX Corporation Private Ltd, which offers online trading facility for steel through its dedicated Web site, will soon offer online trading facilities for other metals such as aluminium and copper for which the company is in talks with leading producers such as Balco and Hindustan Copper.
查看更多>>摘要：The Delhi High Court has directed Sterlite Industries Ltd and Eastern Galvanising to pay interest at 15 per cent per annum on the amount due from July 2, 1998. It is to be paid to those shareholders who offered the shares under the open offer in May 1998. The high court ruling, passed on May 31, 2002, held that withdrawal of the Sterlite open offer would not be permitted. Sterlite official said the company's lawyers were still studying the order and would be able to respond only after going through its implications.
查看更多>>摘要：Japan's primary aluminium stocks in the major port cities of Yokohama, Nagoya and Osaka rebounded to 215,200 metric tons at the end of May, from a five-year low of 211,000 tons at the end of April, an official of Marubeni Corp. said. The rebound was unexpected, but the amount of the stock increase is not high enough to indicate a reversing trend, the official said. Japan's stock decline at the end of April, the second consecutive one, contributed to aluminium premium increases in both the spot market and third-quarter contracts in Japan. Other traders said Japan's primary aluminium stocks had already hit bottom in April, and the end-May rebound is likely to continue, as consumers' restocking has slowed down.
查看更多>>摘要：U.S. aluminium producer Alcoa sees "tremendous potential" in the outlook for the aerospace industry despite a decline in passenger deliveries as a result of the global economic downturn and the events of September 11, Alcoa executive vice president and group president of Alcoa Industrial Components, Pat Hassey, said. Speaking at Alcoa's 2002 Aerospace Market Outlook and Business Briefing Hassey said the company's participation in the sector has not been impacted. "We've been successful in our A380 Airbus applications and we're focusing on winning new applications across the industry."
查看更多>>摘要：Tight copper concentrate supply in the world market may result in lower midyear benchmark copper treatment and refining charges for Japanese smelters, sources familiar the biannual negotiations said. International miners engaged in the current midyear negotiations with Japanese smelters are from BHP Billiton Ltd.'s Escondida mine in Chile, Canada's Highland Valley mine jointly owned by BHP Billiton and Teck Cominco Ltd., and Papua New Guinea's OK Tedi mine. Current tight market conditions are also likely to drag the negotiations, started last week, into July or later, as international miners are asking for much lower TCs and RCs, the sources said. "Miners are asking for TCs in the level of 61 dollars-69 dollars a metric ton. But smelters think current level around 70 dollars/ton is low enough," a Tokyo-based source said.
查看更多>>摘要：High winds and torrential rain led to the loss of 2,500 metric tons of copper production at Antofagasta's Los Pelambres mine in Chile last week but the facility remains on course to produce 330,000 tons of payable copper in concentrates in 2002, deputy chairman Jena-Paul Luksic said at the company's annual general meeting. Due to the high altitude of the plant, disruptions to output as a result of adverse weather conditions had been anticipated by the company and factored into original production estimates, Luksic was quoted saying in a press release. Continued improvements to the operation is expected to lead to an increase in daily ore throughput to an average of 112,000 tons per day rising to 120,000 tons/day in 2003. Production at the company's El Tesoro plant has increased to 85,000 tons of copper cathodes per year, a level which is expected to be maintained until the end of the year. Cash costs at El Tesoro remain under 40 cents a pound.
查看更多>>摘要：The government plans to complete the by October as it steps up its privatisation drive in the months ahead, according to reports. The government has shortlisted four bidders including Sterlite Industries and Birla Copper for disinvesting majority stake in Hindustan Copper, due diligence for which is slated to kick off this week The bidders will start due diligence in Hindustan Copper on June 17 and the process is expected to be complete by October, it is learnt. The other two bidders, namely Finolex Cables and Metdist, also figure in the list. Government proposes to divest its entire equity of 98 per cent to a strategic partner along with management control.
NSTL