查看更多>>摘要：A sharp fall in copper prices over the weekend, triggered by the huge losses in the U.S. equity markets, will delay the price recovery of the metal, but won't push it into a downtrend, analysts said. The copper market is still set to recover next year, even though some analysts have lowered their price forecasts next year. The world economy is still on course to recovery and a tightness in the supply of copper concentrates will push the metal's fundamentals into a supply deficit next year, they said. "We are still seeing a relatively strong recovery in the copper market during 2003.
查看更多>>摘要：Corporacion del Cobre de Chile, or Codelco, has raised its copper premiums by 2 dollars-3 dollars a metric ton for 2003 deliveries in the Asian region from this year's premiums, traders said. However, the world's biggest copper producer is keeping its 2003 benchmark premium for major European ports at 38 dollars /ton, cost, insurance and freight basis, unchanged from this year's benchmark. All premiums are quoted over the London Metal Exchange cash price. Codelco's office in Singapore declined to comment on next year's premiums. Codelco's benchmark premium in Japan for 2003 will be 47 dollars /ton, CIF to main Japanese ports, up 2 dollars /ton from the 2002 premium of 45 dollars /ton. In both South Korea and Taiwan, the 2003 premium will be 43 dollars /ton, CIF to main ports, up 3 dollars /ton from the 2002 premium of 40 dollars /ton.
查看更多>>摘要：The tumbling stock markets and weakening metal prices in recent weeks have led analysts to revise lower their copper price forecasts. Westpac's Huggan maintained his average copper price forecast for this year at 72 U.S. cents a pound but revised lower his copper price forecast for 2003 to 80 cents/lb from an earlier forecast of 84 cents/lb. The revision is based on an assumption that the world economy is still set to recover in 2003, Huggan said. Macquarie has revised lower its price forecasts for 2002 and 2003.
查看更多>>摘要：Heavy short-covering activity by short position holders will also prompt a price rebound, analysts said. Many LME dealers said they noted a similar price movement in LME copper during the same period last year. A series of sharp price declines in mid-September resulting in record-low prices had triggered output cuts by miners and short-covering by funds. Analysts and other market participants are expecting a repeat of that scenario this year, in view of the large amount of short positions held by fund managers and speculators.
查看更多>>摘要：Thailand Smelting & Refining Co., or Thaisarco, plans to reduce its refined tin output to 20,000 metric tons this year - down 13 percent from 23,000 tons last year - due to a shortage of tin ore, an industry source familiar with the Thai company said. 'After Indonesia imposed a ban on tin ore exports (June 1), Thaisarco has to reduce production (of tin metal)," the source said, adding the company's output plan for next year hasn't been finalized. The Thai company is the fourth Asian producer to reduce output so far this year.
查看更多>>摘要：Malaysia Smelting Corp. Bhd, or MSC, said that due to the weak global tin market, it has decided to cut tin production at its Malaysian operations by half starting from November this year. MSC, a major tin producer in Southeast Asia, said output at its Malaysian operations will be lower at 15,000 metric tons next year, from 30,000 tons estimated this year. "Due to the continuing weak global tin market, low tin prices and consequent closure of most marginal and high-cost mines in many tin producing countries, the group's smelting operations will be rationalized," the company said. However, PT Koba Tin, its 75 percent-owned unit in Indonesia, won't be affected by the output cut plan, it said. MSC completed its acquisition of PT Koba Tin in April this year. The Indonesia unit's production capacity is around 12,000 tons/year. In 2003, combined tin output by MSC's Malaysian operations and Koba Tin will be "around 30,000 tons," the company said.
查看更多>>摘要：Major tin producers' plans to cut production have improved the outlook for tin and will likely lead to a supply deficit in the market next year, Macquarie Bank analyst Adam Rowley said. A recent Macquarie report forecasts a deficit of at least 5,000 metric tons next year, and a small surplus of 1,000 tons this year. Last year, the tin market surplus was 11,800 tons. "Concentrates availability will be a difficult issue for other Asian producers - there simply are not many producers with concentrates to sell," Rowley said.
查看更多>>摘要：The global zinc industry should switch to a simple fixed pricing method for zinc concentrate procurement, from the current treatment charge method which is far too complicated, an analyst at Macquarie Bank Ltd's Metals & Mining Research said. "A simple price for concentrates or for toll smelting would enhance transparency and improve price sensitivity," Kamal Naqvi said. Naqvi made the suggestion during his presentation at the International Lead & Zinc Study Group, 47th Session, in Stockholm.
查看更多>>摘要：Sterlite Industries, which recently bought Hindustan Zinc Ltd (HZL) in the disinvestment process has planned a major capacity expansion for its newly acquired company as part of its strategy to maximise its return on investments. The company increase the zinc smelting capacity by almost 20 per cent to 2.05 lakh tonne per annum in the current fiscal. The increased smelting capacity would be achieved without incurring any extra capital cost, company sources say. Sterlite is also aiming at more than doubling HZL's zinc capacity to at least four lakh tonne per annum over a period of time. The capacity expansion will be achieved through a combination of brownfield expansion and debottlenecking exercise. Sterlite Industries acquired 26 per cent in the company at a cost of Rs 445 crore in the previous round of disinvestment.
查看更多>>摘要：DTC, the new avatar of De Beer's in India, has embarked on a drive to popularise branded diamonds and diamond jewellery called Arisia. The success of its Nakshatra range has provided a filip to DTC to promoting branded diamonds. Arisia will be a top-end range and will be priced above Rs 2 lakh per piece. It will target the upper middle class and the affluent besides lady professionals. S K Doshi, managing director, Shrenuj & Company, one of the two manufacturers of Arisia range, said, "This is the first nationwide jewellery brand and its success could be precursor for launching other high value brands. It is an exclusive range of jewellery using superior solitaires of one carat and above."
NSTL