This is one of the most notable achievements in the refinery's 31-years history. In last 11 years, the refinery has constantly extended its production volumes culminating in record levels this year.
These record levels were reached following a USD350 million CAPEX programme that has been undertaken at the refinery since 2000, resulting in significant upgrades to the refinery's facilities. In particular, the lime-burning kiln has been reconstructed with its conversion to heating gas, fifth calcination kiln has been built and the captive power plant has been reconstructed.
In 2010, the Nikolaev alumina refinery produced 1.534 million tonnes of alumina, with a 1.57 million tonnes total production capacity.
Nickel was stationary in the mid morning trades on MCX. The prices have been stable on account of closing of international markets. Nickel markets were in surplus of 13000 tons in Jan-Oct 2011 as compared to a surplus of 100 tons in the full year 2010. The production of refined Nickel was 1.51 million tons in Jan-December 2010.
From investor point of view Nickel will go down with losses of 25.5% in 2011. The LME three month forward prices that were in the region of $ 25150 per ton in January 2011 have come down to $ 18740 per ton in December. MCX Nickel that now stands at Rs 987 per kg in December has been discounted by 12% from levels of Rs 1124 per kg in January.
After obtaining weekly gains, base metals were trading sideways with negative bias on Monday, 26th December with lower volumes as the LME and Comex are closed for holiday today. Even though positive US economic indicators led to metal gains previous week, the lingering European debt concerns persisted in the market weighing on the sentiment.
SHFE copper future for the most active March 2012 contract was trading at 55140 yuan per tonne, down 0.59% (330 yuan). At MCX, Copper for delivery in February was trading flat at Rs 406.9 per kg.
The mixed economic data from US released on Friday, 23rd December is not inspiring the investors and propelled them to stay on sidelines. New orders for U.S. durable goods rose to 3.8% in November and new home sales rose to 315,000 hitting a seven-month high, although consumer spending was tepid that rose to 0.1% in November missing the expectations of 0.3%.
Among other metals in the domestic market at mcx tips free , Nickel for delivery in December tested a high of Rs 988 per kg and low of Rs 984.3 per kg in intraday and is now trading at Rs 986.7 per kg, up 0.13% or Rs 1.3. Zinc remained unchanged at Rs 98.2 per kg. MCX lead trading flat at Rs 105.95 per kg and Aluminium was also trading flat at Rs 105.7 per kg .
The Ministry of Food Processing Industries has approved 10 Mega Food Parks in Andhra Pradesh, Punjab, Jharkhand, Assam, West Bengal, Uttarakhand, Tamil Nadu, Karnataka, Bihar and Tripura. In-principle approval has been accorded to 5 projects and Expression of Interest (EoI) issued for another 15 projects. The Mega Food Parks Scheme (MFPS), a flagship programme of the Ministry of Food Processing Industries (MFPI) aims at accelerating the growth of food processing industry in the country through facilitating establishment of strong food processing infrastructure backed by an efficient supply chain.
The scheme provides for a capital grant of 50 percent of the project cost in difficult and ITDP notified areas(with a ceiling of Rs 50 crores). The grant is utilized towards creation of common infrastructure in the park. A Mega Food Park takes about 30-36 months to be completed. Eight out of ten cold chain projects approved by MFPI have started commercial operation. Substantive value addition, reduction in wastage and enhancement in farmers' income is evident from concurrent evaluation of these projects. 39 projects have been approved in 2011.
The approved projects envisage a total investment of about Rs. 850 crore. These 49 projects would create cold chain capacity of over 2.30 lakh MT. A sum of Rs. 488 crore is likely to be spent by March 2012 on the scheme for technology upgradation and modernization of food processing industries. This scheme is adding huge processing capacity to the food processing industry, which in turn has resulted in significant reduction of wastages.
Pepper futures dropped heavily for the near month futures though a good buying support pushed up the benchmark futures. The NCDEX January pepper futures plummeted by Rs 585 or 1.74% to close the day at Rs 32935 per quintal. The counter has dropped for three consecutive sessions now. The drop in the futures was attributed to a near 1000 Rs collapse in the spot prices as the lax export demand coupled with the worries over rising stocks in exchange warehouses hurt the sentiments.
There are some worries that farmers in the key producing district of Idukki, who are holding pepper stocks were liquidating at every hike high range pepper and buying cardamom which is available cheap at present. The cardamom auctions in Kerala will resume on 27th December 2011 in Puttady Spices Park of Spices Board. A decision to this effect was taken at the joint meeting of traders, auctioneers and planters from Kerala and Tamil Nadu convened by the Spices Board in Puttady.
However, the benchmark pepper futures gained impressively, reversing some of their heavy losses over last couple of sessions. The ncdex tips free February futures closed up Rs 515 or 1.57% to Rs 33125 per quintal while NCDEX March also ended up Rs 740 or 2.31% at Rs 32755 per quintal.
NCDEX Jeera futures ended with strong gains in the wake of excellent buying support amid good export demand. The local stocks have dwindled and the drop has come at a very right time as the export demand has picked up late than normal this year following the annihilation in the Indian rupee. The sowing continues to lag behind last year, providing decent support to the prices in spot and futures market.
There are some worries that farmers in the key producing district of Idukki, who are holding pepper stocks were liquidating at every hike high range pepper and buying cardamom which is available cheap at present. The cardamom auctions in Kerala will resume on 27th December 2011 in Puttady Spices Park of Spices Board. A decision to this effect was taken at the joint meeting of traders, auctioneers and planters from Kerala and Tamil Nadu convened by the Spices Board in Puttady.
However, the benchmark pepper futures gained impressively, reversing some of their heavy losses over last couple of sessions. The ncdex tips free February futures closed up Rs 515 or 1.57% to Rs 33125 per quintal while NCDEX March also ended up Rs 740 or 2.31% at Rs 32755 per quintal.
NCDEX Jeera futures ended with strong gains in the wake of excellent buying support amid good export demand. The local stocks have dwindled and the drop has come at a very right time as the export demand has picked up late than normal this year following the annihilation in the Indian rupee. The sowing continues to lag behind last year, providing decent support to the prices in spot and futures market.
As of December 20th 2011, Jeera acreage in Rajasthan was 3.03 lakh hectares, down from near 3.30 lakh hectares compared to the same period a year ago. NCDEX February Jeera futures hit its fresh lifetime highs of Rs 16580 per quintal and closed at Rs 16501 per quintal, up Rs 559 or 3.50% on the day.
Gold edged lower in dull holiday trades though gains in Euro and a firm undertone in the crude oil prices helped the metal to keep the losses limited. Market cues were limited, as many major bourses around the region remained closed for the holidays and the metal, though on a downward trail after hitting one-week highs above $1640 per ounce, was supported on dips towards $1600 per ounce.
China should adjust its foreign-exchange portfolio and buy more gold assets when the price of the metal drops, People's Bank of China Research Bureau Director Zhang Jianhua said in remarks published on Monday. The Chinese government should be wary of the risk of inflationary pressures picking up, and should buy gold as a hedge against that possibility.
China already holds a small portion of its US$3.2 trillion of foreign reserves in gold. Zhang did not give any indication of what proportion of China's foreign-exchange holdings should be held in gold in future.
The Euro is quoting at 1.3065 against the US Dollar even as worries that the New Year would witness ratings agencies focusing back yet again on the debt mess in the region. S&P has been fairly vocal off late, stating that the recent ECB auction wasn't enough to avoid bank downgrades and could be looking to downgrade EMU countries in early 2012.
COMEX Gold is quoting at 1606, down $4.60 per ounce. MCX Gold futures are quoting at Rs 27776, down Rs 20 on the day amid very thing action. The counter has moved in a rnage of Rs 27789-27741 per 10 grams and looks unlikely to traverse the course in evening trades as the floor session in New York is closed.
China should adjust its foreign-exchange portfolio and buy more gold assets when the price of the metal drops, People's Bank of China Research Bureau Director Zhang Jianhua said in remarks published on Monday. The Chinese government should be wary of the risk of inflationary pressures picking up, and should buy gold as a hedge against that possibility.
China already holds a small portion of its US$3.2 trillion of foreign reserves in gold. Zhang did not give any indication of what proportion of China's foreign-exchange holdings should be held in gold in future.
The Euro is quoting at 1.3065 against the US Dollar even as worries that the New Year would witness ratings agencies focusing back yet again on the debt mess in the region. S&P has been fairly vocal off late, stating that the recent ECB auction wasn't enough to avoid bank downgrades and could be looking to downgrade EMU countries in early 2012.
COMEX Gold is quoting at 1606, down $4.60 per ounce. MCX Gold futures are quoting at Rs 27776, down Rs 20 on the day amid very thing action. The counter has moved in a rnage of Rs 27789-27741 per 10 grams and looks unlikely to traverse the course in evening trades as the floor session in New York is closed.
0 comments:
Post a Comment