Metals Sector

NALCO Cuts Metal Price in-line with Global Trend: B.L. Bagra

NALCO Cuts Metal Price in-line with Global Trend: B.L. Bagra

A dip in the international price of aluminum has forced state-owned National Aluminum Company Ltd. to reduce the price of the metal in domestic market by Rs. 3,000 per tonne.

Last month only, NALCO had reduced the price by Rs. 6,500 and Rs. 2,000 considering repetitive price corrections made at the London Metal Exchange. This reduction is made for all the products.

India’s Gold Demand May Exceed 1,200 Tons by 2020

India’s  Gold Demand May Exceed 1,200 Tons by 2020

In India, gold always remains in demand irrespective of its mounting prices. As per a report titled 'India: Heart of Gold' released on Thursday by the World Gold Council revealed that Gold rush in India is getting stronger and cumulative demand of gold in India is expected to increase over 1,200 tonnes or approximately Rs 2.5 trillion by 2020 at the current price levels.

The report also said that India’s demand of gold has increased by 25% regardless of 400% rise in rupee in the last decade.

Silver prices rose to new 31-year highs

Silver prices rose to new 31-year highs

Silver prices has surged up to Rs 49,500 a kg. It has spurred by Rs 800 on today’s trade. The metal price has gone up to its thirty one year’s high. The main reason of this surge is heavy buying by stockists.

Positive global trends were the other reason to propel the metal to its new high.

Among other precious metals, gold has also joined the rally. It has moved up by Rs 125 to Rs 20,870 per 10 grams. There has been huge increase in demand at the domestic market. The basic reason of this demand hike is huge buying in this marriage season and solid global cues.

India's top court allowed shipments of iron ore accumulated at ports in Karnataka

India's top court allowed shipments of iron ore accumulated at ports in Karnatak

India's top court has allowed the shipments of iron ore from the Karnataka ports. The Supreme Court has issued its long awaited verdict over this ban on exports of the steelmaking raw material from Karnataka.

The state is known to be the second-largest producer and exporter of iron ore in the whole nation. Finally the court has given green signal to the ports in the state.

Gold recovers from last week’s decline

Gold recovers from last week’s decline

Gold has managed to recover from the last week's crash in the Asian markets. The price of other precious metals like silver, platinum and palladium have gone up in today's trade. The spot gold was traded at $1,374.615 an ounce at 1.00 p. m. Singapore time.

There has been a hike in the February futures as well. The February-delivery contract was traded at a high of 0.4 percent on the Comex in New York. The Gold February futures have touched $1,373.80 an ounce today.

Copper futures go on high on global cues

Copper futures go on high on global cues

Price of Copper has gone up remarkably in futures trade. The Copper futures for the next month has surged up by 0.25 per cent and touched Rs 433.25 per kg today.

The main reason for this surge is due to the firming trend in the global markets. The copper delivery for February was closed with a high as well. The copper delivery for the next month i. e. February was recorded Rs 433.25 per kg with a hike of Rs 1.10, or 0.25 per cent at the Multi Commodity Exchange counter.

Rationale behind the Ispat-JSW deal

Rationale behind the Ispat-JSW deal

Ispat industries Ltd. is all set to add JSW steel as its promoter and the deal is one of the most talked about in the metal industry. Ispat industries Ltd. was under a great debt when JSW steel has entered as an angel for the company.

Ispat under the deal will oblige JSW by issuing preferential shares worth 41% of its paid-up capital to it, at a condition that JSW still will be making an open offer of 20% after the deal. The amount will at which the Ispat will go ahead with deal is USD 500 million which it will be using to service its debt.

Gold up due to physical buying

Gold up due to physical buying

Gold once again was on a rising spree with the physical buying, as the demand for it increases. Other factors influencing the price rise were, the move of China tightening the monetary policy and the positive reports of US economic recovery.

China also made a lot of internal changes, as it made efforts to negate the inflationary rates which were at a 28 month high. The CRR of China was raised that will have its impact, in the economy.

Price of gold skyrockets

Price of gold skyrockets

On Tuesday morning, the price of Indian gold has reached a record high level making it unattractive to keep it physically. The prices were calculated after looking at the overnight global prices that have deterred even the traders from placing new deals.

The prices have risen since this is the middle of wedding season, said the dealers. They further added that price rise has dropped sales in the last few days.

Iron Ore Export Ban Being Questioned

Questions are being raised on the Government's decision to ban the export of iron ore. The High Court division bench says that it is not right to ban the export of iron ore just because illegal mining was taking place as this would result in thousands of people losing their jobs and the state losing its revenue.