查看更多>>摘要：A bout of buying helped copper recover from the lows on Friday, 8th November at the London Metal Exchange (LME), but a lack of, fresh buying interest and continued technical selling dampened upside progress After falling sharply on Thursday, the market opened lust above support at 1,565 dollars/ton but speculator buying in the pre market provided solid support and the market edged higher. But resistance at 1,580 dollars/ton, the old support level, held strong. Dealers said the market is now waiting to see whether funds resume their recent buying spree before committing to positions. But most expect further gains to emerge early next week given that the longer-term uptrend remains m place. Despite this, there is more room on the downside and another push through the 10-day moving average at 1,567 dollars/ton could lead to a fall to the next support level at 1,540 dollars/ton. To regain last week's upward momentum1 the market will have to break through the major resistance area at 1,600 dollars/ton. But with consumer buying still absent, such a move may be difficult. The release of retail sales and producer price index data late next week will likely help in offerring directi6n to the funds and dictate whether the gains remain in place.
查看更多>>摘要：The National Aluminium Company (Nalco) planning new capacity expansion and value addition projects which form part of its long-term plans. Revealing this at the 21st annual general meeting in Orissa recently, C Venkataramana1 chairman and managing director, said the company has drawn new five-year plan and a new vision for the next 10 years. For the purpose, advance actions have been initiated for setting up the fourth stream of alumina refinery of 5.25 lakh ton capacity and the fourth potline of 1.15 lakh ton capacity, along with corresponding increase in power plant capacity. Emphasis is being laid on capacity utilisation of existing units to achieve higher profits and adequate internal resource generation. The company will selectively undertake upstream and downstream integration projects of strategic importance. The plan also envisages collaborations and joint ventures. Meanwhile, the shareholders of Nalco, which is slated for divestment, approved a dividend of 40 per cent for 2001-2002 at the AGM. The total payout stands at Rs.25.8 billion which is 62.95 per cent of the net profit of Rs.40.40 billion. Last year too, the company had paid a dividend of 40 per cent. Venkataramana said during 2001-2002 the company turned out a record performance in almost all areas of operation.
NSTL