查看更多>>摘要：London Metal Exchange base metals drifted lower with aluminium and copper leading the falls in response to fund long liquidation and equity market weakness. Aluminium was subject to light selling in the pre-market after the emergence of a 12,600-ton stock build in LME warehouses and prices quickly fell to a four-week low at 1,343.50 dollars a metric ton. Sentiment was further hit by the release of the International Aluminium Institute's estimate for primary aluminium production at 57,900 tons for May, up from 57,500 tons in April and 56,700 tons in May 2001e, analysts said.
查看更多>>摘要：When the currency of the world's largest and strongest economy looses ground rapidly, then it's a cause for concern. How grave is the situation? It is difficult to assess now as there is no clear long term trend yet and with some luck it may just be the much awaited correction in the value of the US dollar. At the moment, like every other market, base metals are nervous and another sudden and steep fall in US dollar will almost certainly hurt base metals prices. Being an optimist, my personal opinion is that although the US dollar will be under pressure for remaining part of this year, it is unlikely to collapse. Under such a scenario we are looking at higher base metals prices in next 6-12 months.
查看更多>>摘要：In the years to come, India is poised to emerge as a major aluminium producer in the south Asian region. Once the ongoing expansion programmes of Hindalco, Nalco and Balco are through, the total metal output in the country is expected to cross the 1.2m ton (mt) mark. Though this will be very short as compared to the capacities of the global leaders' it is still a dominant producer in the south Asian region. Alcoa, the world's leading producer of primary aluminium, fabricated aluminium and alumina, has a capacity of 4.1mt, while Alcan, the Canadian giant and world's second largest, has a smelting capacity of 2.3mt. The French company Aluminium Pechinney has a capacity of 1.2mt, which is close to India's entire primary smelting capacity.
查看更多>>摘要：Japan's primary aluminium stocks at the major port cities of Yokohama, Nagoya and Osaka stood at 222,000 metric tons at the end of May, recovering from a five-year low of 215,000 tons at the end of April, the Japan Aluminum Association said in its latest report. The association's data are regarded by the industry as official figures. Marubeni Corp. released data that also indicated a rebound. According to Marubeni, Japan's primary stocks at the three ports totaled 215,200 tons at the end of May, up from a five-year low of 211,000 tons at the end of April.
查看更多>>摘要：The government is likely to initiate the domestic public issue of Nalco by September this year. As part of the divestment programme, Nalco is scheduled to offload 10 percent of the government's stake in the domestic market. This is likely to be followed by an American Depositary Receipt (ADR) where another 20 percent stake will be offloaded. Sources said the ARD issue will follow the domestic offering, while the earlier plan was to proceed with both issues together. The divestment in Nalco, country's second largest aluminium company after Hindalco, will also include a subsequent strategic sale of a 29 percent government stake. "The strategic investor will have to make an open offer for 20 percent, as per Sebi norms," sources said. The entire exercise is targeted to be completed by fiscal '03.
查看更多>>摘要：Anglo Dutch Corus Group's decision in March 2002 to sell its aluminium business has provided industry players with the opportunity to acquire what many believe are the steel producer's few profitable divisions. Around five players are expected submit final bids, with the list already including French aluminium and packaging company Pechiney SA and likely to add a few more major aluminium sector players, sources close to the talks said. Interest is seen likely from Australia-based BHP Billiton, Norway's Norsk Hydro, Swiss Glencore International, Canada's Alcan and U.S. giant Alcoa, sources added.
查看更多>>摘要：Australia-based Macquarie Bank Ltd. said that China's aluminium output "could total at least 4.5 million metric tons" this year, exceeding the bank's previous forecast of 4.2 million metric tons. In its weekly report, the bank said China's aluminium output growth gathered pace in May, but that domestic demand is "clearly not (growing) quickly enough to keep pace with production." China is the world's second largest aluminium producer, next to the U.S. The bank based its forecast on data from China's State Statistics Bureau. In the January-May period, China's aluminium output rose 30 percent from a year earlier to 1.7 million tons, according to data released Monday by the State.
查看更多>>摘要：The Romanian copper producing assets of London-based metals trader RBG Resources are up for sale and talks are underway with "a number of interested parties" following the entry into receivership of the company at the start of May, a spokesman for the administrator Grant Thornton said. The assets include copper cathodes producer RBG Phoenix Baia Mare SA and copper rod and wire producer RBG Elcond SA, owned 99.5 percent and 90 percent respectively by the trading firm. RBG Cepronef, a unit specializing in research into specialized chemicals and owned 93.6 percent by RBG Resources, is also up for sale.
查看更多>>摘要：Kazakhmys Corp., Kazakhstan's largest nonferrous metals producer, said that it plans to boost copper production to 500,000 metric tons a year in 2004-2005. Kazakhmys, co-owned by Samsung Corp. of Korea and the Kazakh government, has recently begun developing the Nurkazgan copper mine in central Kazakhstan and plans to launch production at the Zhaman Aibat, Shatyrkol, Artemievskoye mines in the next two to three years, Kazakhmys spokesman Vladislav Nikolayev told. "We plan to boost copper output, but the plans might change depending on international copper prices," Nikolayev said. "The deposits hold a lot of gold and copper, enough for 30 years of development, Nikolayev said. He didn't reveal the size of the deposits, saying it was a national secret."
查看更多>>摘要：Canada-based Inco Ltd.'s rich nickel deposit in Voisey Bay could tip the Western World nickel market into a large supply surplus in 2006, Nomura Australia Ltd. said. This means that the long-term impact of Voisey Bay would "likely by a negative for the nickel price," Nomura, an investment bank, said in a report. With Voisey Bay set to produce 50,000 metric tons of primary nickel a yare by 2006, that would result in a global supply of 1.27 million tons, a 30,000 ton-surplus, said Nomura.
NSTL