查看更多>>摘要：Copper ended the week on a disappointing note as speculative and fund players liquidated long positions following higher-than-expected U.S. unemployment figures and a slump in equities.Three-month metal slumped to a low bid of 1,574.50 a metric ton before dip buyers entered to support the downside in short covering ahead of the weekend, taking prices to close the kerb at 1,585.50 dollars/ton (bid). The U.S. Labour Department reported that the April unemployment rate climbed to its highest level since August 1994. The rate rose by three-tenths of a percentage point to 6 percent, surprising Wall Street economists who called for an unemployment rate of just 5.8 percent. This confirms that the economy and earnings will not grow as strongly or expand and recover as strongly as strategists had been forecasting, market observers said. Dealers said further rises in LME warehouse stocks will continue to dampen sentiment, with levels approaching the one-million-tons mark. Support is seen down to 1,570 dollars/ton and 1,550 dollars/ton below this, with the market looking to close above 1,600 dollars/ton before fresh upside is seen.
查看更多>>摘要：Nalco turned in a disappointing Q4 performance as well as for the year ended March 31. Sluggish price trend in aluminium and a high wage bill have been the main factors for Nalco's dismal performance. For the fourth quarter, Nalco has recorded a 3.2 per cent growth in net sales to Rs. 6.49 billion and a 13.6 per cent decline in post-tax earnings to Rs 1.37 billion. The operating profit margins declined by 3.03 percentage points in this quarter to 37.23 per cent over the same period the previous year. Over this period, the per share earnings declined to Rs 2.13 from Rs. 2.46.For the year ended March 31, 2002, Nalco registered net sales of Rs 22.25 billion and a 37.9 per cent decline in post-tax earnings to Rs 4.07 billion. The per share earnings has suffered a decline to Rs 6.32 in 2001-02 from Rs 10.18 in 2000-01.
查看更多>>摘要：Hindalco Industries Limited, an Aditya Birla Group company posted a net profit of Rs 6.86 billion for the year ended March 31, 2002 as against Rs 6.78 billion for the same period during the previous year. The company's net sales jumped to Rs 23.31 billion in 2001-02 as against Rs 22.75 billion last year, posting a growth of 2.5 percent. The company's operating margins fell by 5.6 per cent to Rs 9.94 billion in FY 02. Hindalco whole-time director and president Askaran Agarwala attributed this to a rise in inputs like coal, CP coke and caustic soda.
查看更多>>摘要：Indian Aluminium, an Aditya Birla Group flagship posted a profit after tax of Rs 1.17 billion for the year ended March 31, 2002 - a marginal rise of Rs 10 million over the corresponding period of the previous year. The company's net sales increased by 7 per cent and touched Rs 13,683 million for the year ended 31 March 2002 compared to Rs 12,771 million recorded last year. This has been the highest ever sales clocked by the company till now.S. K. Tamotia CEO and President Indal said, "The company has clocked in a creditable performance de spite the dismal international and domestic market conditions. Although the company's exports fell to Rs 3,492 million compared to Rs 3,747 million last year, Tamotia said that the company will continue its thrust on exports and will clock a better export performance in the current fiscal.
查看更多>>摘要：Pechiney has launched an environmental impact study for the development of a 1.6 billion dollars aluminium smelter on South Africa's east coast, a Johannesburg newspaper reported. The paper said the company has also launched a similar study at a site in the Northern Terriroty of Australia and is also considering Canada as a venue for an operational aluminium smelter by 2005. The possible site of the smelter in South Africa is at Coega, a controversial new harbour and industrial development node in South Africa's Eastern Cape Province.
查看更多>>摘要：Japan's aluminium demand from end users in the first two months of 2002 slid 8 percent on year to 593,800 metric tons, the Japan Aluminium Association said in its April report. The decline continued from last year's weak demand due to the country's economic slowdown. In 2001, Japan's total aluminium usage fell nearly 6 percent on year to 3.9 million tons, according to the association. Japan's is one of the world's biggest aluminium users.
查看更多>>摘要：Increased demand from the economic recovery in North America has pushed the price of copper higher, but high levels of copper stock remain and will keep prices from making significant gains until the second half of the year, sources say. "The fundamentals are there for price to rise," said Kenrick Jordan, senior economist with the Bank of Montreal's Economic Research and Analysis Division. However, while the price of copper was up moderately in the first quarter, Jordan felt that the large amount of copper stocks in storage was affecting the upward mobility of price. He noted that over the last year, copper stocks have remained fairly high due to the economic downturn and the relative low price of copper. As a result, "…prices will be muted in the short term."Jordan does predict though that prices will prick up in the second half of the year as the economic recovery takes hold in Canada and the U.S. Production is also down due to the economic slowdown, with cutbacks due to the low price of copper. Jordan said that most of the recent product produced went straight into storage. Even with demand picking up, he believed that stockpiles would not erode fast enough to drive prices significantly higher.
查看更多>>摘要：Canadian miner Breakwater Resources Ltd. said recent announcements of zinc production cutbacks and mine closures due to the low metal price have produced a shortfall in zinc concentrates, resulting in lower treatment charges which will eventually expected to lead to lower smelter production. "These factors, combined with an apparent recovering economy, should result in an increased price of zinc in the latter half of 2002," the company said in a press release.Breakwater said it is slightly ahead of its target to produce 483 million pounds of zinc at a total cash cost of 0.35 dollars per pound in 2002. Production of zinc contained in concentrate increased by 15 percent during the first quarter of 2002 compared with the same period of 2001, the company added. For the quarter ended March 31, the company said it had a consolidated net loss of 3.3 million dollars on gross revenue of 64.5 million dollars, compared with a consolidated net loss of 4.0 million dollars (0.04 dollars per share) on gross revenue of 80.1 million dollars for the same period in 2001.
NSTL