查看更多>>摘要：Base metals responded positively to the rally in equities in the US and Europe. Copper was also helped by rumours of further production cuts and this time, the name mentioned was that of Grupo Mexico. It is just a matter of time before major copper producers come out clean on their stand on production cuts. It appears that copper industry's, for that matter entire base metals industry, only hope may be a rapid economic recovery besides production cuts. However, the extent to which copper prices moved up last week on a single rumour suggest that even modest production cuts in copper may result in significant improvement in market sentiment. Copper closed over key 1,500 dollars level and eyes the resistance band of 1,525-50 dollars which may only be pierced if supported by firmer equities or production cuts. Aluminium has made good progress in past couple of weeks although it faces tough resistance at 1,330-50 dollars band. Nickel can test 7,000 dollars in next couple of weeks if rest of the base metals keep the momentum going. Lead looks well supported at 420's dollars and any dips towards that level are likely to be bought into. Zinc in spite of cloudy fundamentals is poised for a technical bounce and during next copper rally may test 800 dollars. However, a word of caution as at this point it is all sentiment driven which can change very rapidly.
查看更多>>摘要：Dull aluminium market on the London Metals Exchange (LME) has taken a toll on the stocks prices of major domestic firms. While Hindalco Industries has found itself at the receiving end, Nalco has held ground because of the impending disinvestment. Hindalco stock has lost around 48 per cent of its value from Rs 820 on February 2002 to Rs 460 on October 14, 2002. Nalco stocks, although considered to be as efficient an aluminium producer as Hindalco, have faired comparatively well on the Stock Exchange, Mumbai (BSE). Nalco stocks, which were ruling at Rs 78 in February 2002 rose by 50 per cent on the BSE to Rs 117 in July.
查看更多>>摘要：Global aluminium players are courting Hindalco Industries Ltd. now that India's biggest integrated aluminum producer has emerged as the favourite contender to buy out National Aluminium Company Ltd. (Nalco). In view of the local opposition to the planned sale, which led to a one-day strike by unions in September, an Indian company is seen as the most likely player to secure the 29.15 percent stake in Nalco that is up for grabs, sources say. The high price sought by the state for the stake, believed to be near 1.5 billion dollars, is viewed as too steep and would certainly require the financial backing of a global producer. Industry insiders said Switzerland's Glencore International is believed to be in advanced talks with Hindalco over the possibility of a joint venture deal, while it has already been reported that U.S. giant Alcoa Inc. has held talks with Hindalco in the hope of coming to an arrangement. Senior executives at Russian Aluminium, or RusAl, also admitted they have entered a bid for the assets, but do not believe a much sought after deal with Hindalco will be possible because of the keen presence of other industry players in the bidding war. RusAl said it needs to secure additional alumina in order to undertake the smelting expansions it has planned.
查看更多>>摘要：The Union ministry of labour has put on hold Hindustan Copper Ltd's (HCL) plan to close down Surda, the last of its operational mines under the Mosabani group of mines around Ghatsila. The mine was to be closed down with effect from October 16. The ministry of labour has, through a letter dated October 11, conveyed that the Surda mines and its assisting units and departments including the Mosabani concentrate plant would not be closed, Mosabani Mines Labour Union (MMLU) general secretary Akhileshwar Singh stated.
查看更多>>摘要：EXIDE Industries Ltd will be launching a new battery specially for commercial vehicles as part of the company's thrust on the commercial vehicles segment and rural markets to increase automobile battery sales. The company plans to strengthen its service network in the rural areas and along highways and hopes to build rural sales and service network covering 40,000 villages through 2,000 dealers over the next one year, according to Paban Kr. Kataky, President, Exide Auto-Trade. Through the programme, 'Project Kisan' launched recently, Exide Industries has put in place 800 to 900 dealers covering 15,000 villages. The aim is to target the battery replacement segment for tractors, he said. The potential was estimated at 1.6 million batteries in the tractor market, and Exide did not have a major share for now, he said. Its Jai Kisan tractor batteries have effectively helped tap this segment. However, while not willing to quote numbers, he said that the project had helped to markedly increase the company's presence in this segment.
查看更多>>摘要：The latest announcement of Reserve Bank of India (RBI) permitting authorised banks trading in gold to consider their gold and forex limits as one has raised hopes of more relaxation of the restrictive gold policy of the apex bank. The focus has shifted back to the failed Gold Deposit Scheme launched in 1997 which bankers said needs to be relooked at if the potential of the yellow metal in the retail segment is to be unlocked and gold is to be made a tradable product, through paper gold (gold certificates issued by banks and corporates that can be listed and traded on futures exchange). As of now, the bullion banks act only as consignees of their clients and act as brokers for the TT bars buying from overseas and supplying to their local clients. Thus, a handful of them do offer gold loans butt the vast potential of the retail market has been left untapped. Even the State Bank of India (SBI) failed in its efforts and barely managed to mobilise merely six tonne of gold under its maiden gold deposit scheme. At the time of the launch in 1997, the SBI had said it aimed at mobilizing 100 tonne.
查看更多>>摘要：Once considered as the hub of bullion trade in India, Gujarat is fast losing its golden touch. The Rs 80 crore bullion scam involving the cooperative bank sector and then the tax sops offered by states like Maharashtra, Rajasthan and of late, even Haryana, has hit the Gujarat bullion trade. The state has lost as much as 80 per cent in the state's bullion trade ever since March this year. Though the State Bank of India, which got its fingers badly burnt in the bullion scam in 2001 and was forced to exit the sector for almost a year before making a cautious entry once again in February this year, volumes of trade in the sector are a minuscule percentage of what they were a year ago, sources say. Things have really changed and that too for the worse for Gujarat and one thing is for sure, no matter how hard it tries, the state can never regain its position as the leader of the bullion business in the country ever again.
查看更多>>摘要：The Indian diamond industry, which today follows quality parameters like carat, colour, clarity and cut, will now have C added to these criterion - certification. As of now, diamond certification, a mandatory requirement for diamond buyers and sellers worldwide, is not followed in India. The domestic diamond trade has been functioning on the word of mouth assurance. However, there are many grey areas in buying diamonds on word of mouth. Subtle difference in the colour or the clarity, which a layman would not be able to recognise, could mean a major difference in value during a resale for the same stone. So an end customer could never be sure if his or her investment is justified as per the quality of the stone bought. Diamond certification helps in assessing the correct characteristics of the diamond and classifies it according to rigid parameters, which are based on the four Cs of the diamond.
NSTL