Copper Further Sublimes As Rupee Recovers Ahead of Budget

Copper...


Mr Finance Minister will be presenting the Union Budget. All eyes are set on the proposals from Mr Chidambaram. The commodities will be hoping that there is no transaction tax imposed on it. The anxiety is high and height of it is making Rupee recover against its rival US Dollar. Internal factors have upper hand at the moment as markets will digest only reform friendly budget that will further underpin Rupee from current levels of 53.69, up 0.32% ahead of the budget. Copper sublimed further on MCX as pressure continued even as LME Copper forwards showed recovery. 

The metals have seen a continuous bashing until yesterday when all of them improved including Copper. LME Copper closed at $ 7863 per tonne, up $ 70. The metal breathed easy after assistance from Federal Reserve that the bond buying will continue. Copper is seen trading at $ 7904 per tonne on Thursday.
In Economic reports, the European Central Bank said M3 money supply in the single currency bloc rose at annualized rate of 3.5% in January, above expectations for a 3.2% increase. The U.S. Census Bureau said that total durable goods orders, which include transportation items, tumbled by a seasonally adjusted 5.2% in January, compared to expectations for a drop of 4.4%
Meanwhile, World primary Aluminium production increased by 5.7% in January 2013 compared to the similar period last year. Total reported primary Aluminium production was at 3.92 million tonnes in January 2013 as compared to 3.70 million tons in January 2012.
MCX Copper closed at Rs 428.2 per kg, down 1%. The supports for Copper is at Rs 426 and 425 per kg. Resistance for the contract is at Rs 433 per kg. LME Aluminium settled trading at $ 2016 per tonne, up $ 2.5 per tonne. MCX Aluminium settled at Rs 107.6, down Rs 1.6.
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Gold Inches Up But Stays Under $1600

Gold...

Gold futures inched up in the Asia electronic session today however strong gains in the equities kept it below $1600 an ounce. Gold tallied a gain of nearly $43, or 2.7%, on Monday and Tuesday. It is poised for a loss of around 4% for the month.

Gold for delivery in April is trading up $1.7 at $ 1597.4 per ounce on the Comex division of the New York Mercantile Exchange. It fell $19.80, or 1.2%, to settle at $1,595.70 an ounce yesterday. Prices had traded as high as $1,614.40 during the session.
On Wednesday, investors favored equities over gold. They cheered by a rise in pending home sales in January to the highest level since April 2010. Stocks also got a boost after remarks U.S. Federal Reserve Chairman Ben Bernanke this week assuaged fears over an end to the central bank’s quantitative-easing program.
On the economic front today, Japan's industrial production grew 1% during January for its second-straight monthly increase, the Ministry of Economy, Trade and Industry said Thursday. Transport equipment, including cars, was the top contributor to the gain, the ministry said. The yen gained fractionally after the data, with the dollar slipping from 92.34 to 92.31
MCX April gold futures may open today’s session near Rs 29800 levels with resistance near Rs 29840-870 levels. Yesterday the metal ended lower by 1.16% at Rs 29743 per 10 grams.
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Gains In Indian Rupee Spoils The Party For MCX Copper

Copper.......


The expectations that government will do something on the deficit front in the upcoming budget aided Rupee but spoiled the party for Copper prices. The metal remained declining even when it looked that it had slide too much too fast. An ambitious growth range of 6.1-6.7% in the year 2013-14 shown in the economic survey boosted the Indian Rupee against the US Dollar on Wednesday. The growth rate if achieved would prove fruitful for Foreign Investments in the country. Copper tested a low of Rs 427.6 per kg in intraday trading.

LME Copper was cheering the fact that Federal Reserve Chairman Ben Bernanke gave some ray of hope for the investors. Bernanke has said that the current bond buying programme was essential for US growth. The rise in new home sales was another factor that pumped Copper as the metal is extensively used in construction. LME Copper forwards was trading at $ 7863 per tonne, up $ 70 per tonne.
US Dollar was trading with mild losses against the Euro on Wednesday. The greenback exchanged hands at 1.3092, down 0.25%. Indian Rupee traded at 53.87 against the Dollar, up 0.42%. The Rupee tested a high of 53.61 and a low of 54.09 against the Dollar. Italian 10-bond yields rose to the highest level since December on Tuesday, climbing to 4.91% from 4.37% on Monday, while the yield on Spanish 10-year bonds rose to 5.5% from 5.1%.
MCX Copper April contract was trading at Rs 429.2 per kg, down 0.81%. The prices are supported at Rs 426 per kg. Resistance for the contract is at Rs 433 per kg. Among other metals, Nickel was trading at Rs 901 per kg, down 1% from last night. The prices are expected to find support at Rs 893 per kg.
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Gold Slips But Stays Above $1600

Gold......



Gold futures slipped in the Asia electronic session today but the metal stayed above the psychological $1600 an ounce mark after it surged to its best one-day gain so far this year.

Gold for delivery in April dipped $4.2 to $1,611.30 an ounce in electronic trading in Asia hours on Wednesday on the Comex division of the New York Mercantile Exchange. In the previous session, the metal rose $28.90, or 1.8%, to settle at $1,615.50 an ounce, vaulting over the $1,600 an ounce mark.
The performance on Tuesday was golds biggest one-day gain in 2013, and came as investors turned to the metal for its safe-haven appeal following an election that resulted in a political gridlock in Italy.
In addition, comments from Federal Reserve chairman Ben Bernanke reassured investors that the central bank wasnt about to pull back on its asset-buying program. Fed bond-buying has previously supported gold. Federal Reserve Chairman Ben Bernanke said Tuesday that he does not see any sign that the Feds ultra-loose monetary policy is creating a bubble in equity markets. I dont see much evidence of an equity bubble, Bernanke said in testimony to the Senate Banking Committee.
In a note that surfaced Tuesday, Goldman Sachs analysts slashed their gold forecasts for this year, saying the turn in the gold cycle is happening faster than they thought. That call came as gold enjoyed some Italian-inspired safe-haven buying that drove European stocks south. Italian stock markets were down nearly 5%.
Goldman slashed its three-month gold-price forecast to $1,615 an ounce from $1,825, its six-month forecast to $1,600 an ounce from $1,805 and its 12-month forecast to $1,550 an ounce from $1,800.
MCX April bullion futures may open todays session below Rs 30000 with support around Rs 29950 and Rs 29800 levels.
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Nickel Under Pressure On LME

Nickel.......


Nickel markets remained under pressure as the world markets struggled to find a way out from technical and panic selling. The political uncertainty in Italy as the upper house was yet to find any party emerging in clear majority led to the selling in the markets. The anxiety of the Federal Reserve Chairman testimony today was also hovering the sentiments on the downside.

LME three month forward Nickel was down by $ 248 per tonne, at $ 16552 per tonne. LME Nickel is at three month lows today's. MCX Nickel was trading at Rs 905 per kg, down 0.17%. The metal has tested a high of Rs 909.2 per kg and a low of Rs 901 per kg.
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Gold Extends Gains For Second Day

Gold.......


Gold futures extended gains for the second day today covering its recent losses of more than $100 an ounce. However a breakage of $1600-610 levels looks challenging.
Gold for delivery in April is trading up $1595.8 up $9.2 an ounce on the Comex division of the New York Mercantile Exchange. Yesterday, it settled at $1,586.60 an ounce, up $13.80, or 0.9%. That was the biggest one-day gain for futures prices month to date. Gold fell $5.80, or 0.4%, on Friday to settle at a seven-month low of $1,572.80 an ounce, closing out last week with a 2.3% loss.

Today gold was also supported by the QE friendly comments by Dennis Lockhart, the president of the Atlanta Federal Reserve Bank. He said that the Federal Reserve should stick with its current $85 billion per month bond-buying program, at least into the second half of the year.
"All things considered, I do not think that monetary policy has yet crossed the line where the benefits of the current policy -- specifically the quantitative easing element -- are swamped by serious concerns over problems the policy might be creating for the longer term," Lockhart said in a speech at the University of Tennessee. Markets have been worried that the Fed will scale back the bond-buying program after the minutes of the central bank's last meeting in January showed some officials are nervous about making the balance sheet bigger.
MCX April gold futures may open today;s session near Rs 29620 per 10 grams levels with resistance near Rs 29700 and support near Rs 29570 levels. Yesterday it ended little higher due to sharp appreciation in the Indian Rupee.
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Economic Buzz: U.S. Natural Gas Storage Falls

Natural Gas..........

Energy Information Administration said that U.S. Natural Gas Storage fell to a seasonally adjusted annual rate of -127 billion cubic feet for the week ending 15th February 2013, from -157 billion cubic feet in the preceding month. Analysts had expected U.S. Natural Gas Storage to fall -122 billion cubic feet last month.
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Gold Extends Gains In Asia

Gold..........


Gold futures extended gains in the Asia electronic session today logging gains for the first time in last six sessions. Gold has been propped up by buying after the commodity tumbling by nearly $50 in this week.
Gold for delivery in April is trading up $4.7 at $ 1583.3 per ounce on the Comex division of the New York Mercantile Exchange. Yesterday, it climbed 60 cents to settle at $1,578.60 an ounce, after touching an intraday low of $1,554.30.

Is gold going to stay beneath the $1700 in 2013? Gold which hit the all time high of $1911.6 on 9th September 2011 was unable to breach the $1800 mark in 2012 and has not been able to seen the $1700 mark since the start of 2013. Infact the metal tumbled below $1600 an ounce levels after the Fed indicated a wrap up of the QE in the near future.
Gold is down more than 6% so far this year after climbing for a 12th straight year in 2012 as central banks from the U.S. to China boosted stimulus. Gold surged 70% as the Fed bought $2.3 trillion of debt in two rounds of easing from December 2008 through June 2011. The FOMC at its January meeting decided to continue $85 billion in monthly bond purchases.
Minutes of the Federal Open Market Committee’s Jan. 29-30 meeting, released on Wednesday, showed policy makers were divided about the strategy behind Chairman Ben S. Bernanke’s program of buying bonds. Some said an earlier end to purchases might be needed, while others warned against a premature withdrawal of stimulus.
MCX April gold futures contract may open today’s session near Rs 29770 levels with resistance near Rs 20810-40 levels.
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Mcx Lead

Lead.......




World Bureau of Metal Statistics has reported that the lead markets were in surplus of 14200 tonnes in 2012. This followed a deficit of 46600 tonnes in 2011. Lead stocks were 34300 tonnes higher from the end of 2011. Lead markets production was 5.27 million tonnes, was up 12.7% in 2012. Meanwhile, refined lead production was 10.48 million tonnes both from primary and secondary sources; the production was 1.1% higher than the previous year.


Refined lead production was 900900 tonnes in December 2012. Refined usage of Lead grew by 83000 tonnes. Apparent consumption in China was 4.67 million tonnes in 2012, up by 10000 tonnes from 2011. China consumed 45% of global total. Refined Lead consumption was 939500 tonnes in December 2012.
Meanwhile, LME three month forward prices were trading at $ 2333 per tonne, down $ 47 per tonne. MCX Lead was trading at Rs 125.8 per kg, down 0.75%.
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Mcx Gold

GOLD.....




Gold futures crashed down hard extending its losses in the Asia electronic session today following a bearish FOMC meeting minutes report.
The Federal Reserves Open Market Committee in early January said U.S. economic conditions are improving to the point that its massive asset purchasing program (quantitative easing) may have to be changed. The FOMC will further address the issue at its next meeting in March. The U.S. Treasury markets, with their recent rising bond yields, are also hinting that the Feds very accommodative monetary policy of the past few years will start to wind down in the not-too-distant future.

Overall, many Fed officials are worried about the costs and risks of the asset purchases, the minutes show. During the meeting, several Fed officials expressed concern about the potential for excessive risk taking by investors due to the Feds ultra-loose policy. The Fed will meet next on March 19-20.
Gold for April delivery are trading down $18.4 at $ 1559.6 an ounce on the Comex division of the New York Mercantile Exchange. Yesterday, it ended lower by $26.2 or 1.6%, to settle at $1,578 an ounce.
Federal Reserve officials will consider major changes to the central banks quantitative-easing program at their next meeting in March, according to minutes of the January meeting released Wednesday. Fed officials appear divided about how to proceed with the current $85 billion per month purchase program.
Markets will be combing through a slew of U.S. data later in the day for more signs of a stronger economic recovery. The weekly jobless claims report, a survey on the manufacturing sector and home sales are all up next.
MCX April delivery gold futures may open today’s session near Rs 29500 levels with support around RS 29400 and RS 29250 levels.
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Mcx Natural Gas

Natural Gas.........

Know Natural Gas

Natural Gas, touted as the clean fuel of 21st century, is fast emerging as a major energy source all over the world. Yet another fossil fuel and often found in oil fields and coal beds natural gas is estimated to contribute around 26% of global energy consumption by 2030.

Its consumption is expected to increase from 95 trillion cubic feet in 2003 to 182 trillion cubic feet in 2030.

Nearly three quarter of the total global natural gas reserves are located in the West Asian and Eurasia regions. Iran, Qatar and Russia together accounts for nearly 58% of global natural gas reserve.

How to profit from Natural Gas boom?
Electrical and industrial sectors are two leading consumers of natural gas in the world. Developed countries led by U.S. are major consumers of natural gas at present. However, China and India are fast emerging as key players in natural gas demand.

Demand for natural gas growing at rapid clip during the past decade is expected to gather further momentum due to high price of oil as well as environmental concerns.

Natural gas is commercially produced from oil fields and natural gas fields. Gas produced from oil wells is called casinghead gas or associated gas. The largest two natural gas fields are probably South Pars Gas Field in Iran and Urengoy gas field in Russia, with reserves on the order of 1013 m³. Qatar also has 25 trillion cubic meters of natural gas (5% of the world's proven supply), enough to last 250 years at current production levels.

In India, the main producers of natural gas are Oil & Natural Gas Corporation Ltd. (ONGC), Oil India Limited (OIL) and JVs of Tapti, Panna-Mukta and Ravva. Under the Production Sharing Contracts, private parties from some of the fields are also producing gas.

Government have also offered blocks under New Exploration Licensing Policy (NELP) to private and public sector companies with the right to market gas at market determined prices.

Get all the hot topics, debates and news about Natural Gas here!

Most of the production of gas comes from the Western offshore area. The on-shore fields in Assam, Andhra Pradesh and Gujarat States are other major producers of gas. Smaller quantities of gas are also produced in Tripura, Tamil Nadu and Rajasthan States.

Natural gas has been utilised in Assam and Gujarat since the sixties. There was a major increase in the production & utilisation of natural gas in the late seventies with the development of the Bombay High fields and again in the late eighties when the South Bassein field in the Western Offshore was brought to production.

Natural Gas is currently the source of half of the LPG produced in the country. LPG is now being extracted from gas at Duliajan in Assam, Bijaipur in M.P., Hazira and Vaghodia in Gujarat, Uran in Maharashtra, Pata in UP and Nagapattinam in Tamil Nadu.

Mcx Crude Oil

Crude Oil.....

Know Crude Oil

Crude oil is the most widely used energy material in the world. Crude oil is a mixture of hydrocarbons that exists in a liquid phase in natural underground reservoirs. Oil and gas account for about 60 per cent of the total world's primary energy consumption.

Crude oil - as petroleum directly out of the ground is called - is a remarkably varied substance, both in its use and composition. Crude oil is formed from the preserved remains of prehistoric zooplankton and algae, which have been settled to the sea (or lake) bottom in large quantities under anoxic conditions. It was formed over millions of years from the remains of tiny aquatic plants and animals that lived in ancient seas due to compression and heating of ancient organic materials over geological time. The oldest oil-bearing rocks date back to more than 600 million years, the youngest being as old as about 1 million years.

Find all the hot topics and debates on Crude Oil here!

Although various types of hydrocarbons - molecules made of hydrogen and carbon atoms - form the basis of all crude oils, they differ in their configurations. The chemical structure of petroleum is composed of hydrocarbon chains of different lengths. Because of this, petroleum may be taken to oil refineries and the hydrocarbon chemicals separated by distillation and treated by other chemical processes, to be used for a variety of purposes. It can be a straw-colored liquid or tar-black solid. Red, green and brown hues are not uncommon.

Burning crude oil itself is of limited use. To extract the maximum value from crude, it first needs to be refined into petroleum products. The best-known of these is gasoline, or petrol. However, there are many other products that can be obtained when a barrel of crude oil is refined. These include liquefied petroleum gas (LPG), naphtha, kerosene, gasoil and fuel oil. Other useful products which are not fuels can also be manufactured by refining crude oil, such as lubricants and asphalt (used in paving roads). A range of sub-items like perfumes and insecticides are also ultimately derived from crude oil.

Furthermore, several of the products listed above which are derived from crude oil, such as naphtha, gasoil, LPG and ethane, can themselves be used as inputs or feedstocks in the production of petrochemicals. There are more than 4,000 different petrochemical products, but those which are considered as basic products include ethylene, propylene, butadiene, benzene, ammonia and methanol. The main groups of petrochemical end-products are plastics, synthetic fibres, synthetic rubbers, detergents and chemical fertilisers.

Do you know what is Peak Oil? If not, check it out here!

Considering the vast number of products that are derived from it, crude oil is a very versatile substance. Life as we know it today would be extremely difficult without crude oil and its by-products.

The edifice modern industrial economy as well as agriculture depends upon crude oil in way or the other. Crude oil is also a key variable in global financial markets as the largest traded commodity in the world. Broadly crude oil is categorized into three groups – Brent Crude, West Texas Intermediate and OPEC Crude.

Brent crude is the standard benchmark of crude oil in Europe. Refined mainly in Northwest Europe North Sea coast is the main source of Brent Crude. Priced slightly above the reference price of Organization of Petroleum Exporting Countries Brent crude however is on average lower by U.S. $1-2 per barrel lower compared with West Texas Intermediate.

West Texan Intermediate known as WTI in trade parlance is considered as of very high quality due to very lower sulphur content. WTI normally commands a premium of $ 2-4 dollar per barrel compared with OPEC basket price and 1-2 with Brent Crude.

OPEC, the organization formed in mid 1960s by some of the major oil producing countries, is a powerful cartel in shaping global oil prices. Besides countries in West Asian region other key members in the cartel are Venezuela, Algeria and Nigeria.

Crude oil accounts for nearly 40% of the global energy demand. Global consumption of crude oil is estimated at 80 million barrels per day. The U.S. with 20 million is the leading consumer followed by China, Japan and European Union. Members of OPEC provide around 55% of global crude oil exports.

India, rated as one of the 10 top oil consumers in the world, depends on import for nearly 70% of its crude oil requirements. India’s consumption estimated at 2.5 million barrels per day is expected to rise further due to rapid pace of economic development. Domestic production of crude with less than 1 million barrels per day India depends heavily on imports. Indian imports are mainly from OPEC members.

Crude oil prices are highly sensitive to global political and economic developments. Oil prices surged ahead during the past three years from less than $30 per barrel to over $140 per barrel. Currently hovering around over $ 50 per barrel crude oil prices would play a crucial role in shaping the fortunes global economic developments as well as financial markets for a long time to come

Mcx Zinc

Zinc

Know Zinc

Zinc is the fourth widely used metal after steel, aluminium and copper in the world. Mainly used for galvanizing steel, zinc is also used in alloys, batteries, rubber, paint, electroplating metal spraying and several other sectors. Due to its resistance to non-acidic atmospheric corrosion zinc is instrumental in extending the life of buildings, vehicles, ships and steel goods and structures of every kind.

Zinc is a bluish-white lustrous metal. It is normally covered with a white coating on exposure to the atmosphere. Zinc dust is flammable when exposed to heat and burns with a bluish-green flame. Zinc also exists in many compounds.

Read all the Zinc and other Base Metals News and Features Here!

Zinc has a role in normal human growth, taste, and sperm development, but exposure to high levels of zinc through inhalation, ingestion, and dermal contact can cause adverse health effects.

Zinc is used for alloys, electroplating, metal spraying, electrical fuses, batteries, rubber, paint, glue and matches. Zinc is registered as a fungicide, herbicide, and rodenticide.

The primary stationary sources of zinc are electric services, petroleum refining, crude petroleum and natural gas extraction, manufacturing of fabricated rubber products, manufacturing of fabricated metal heating and plumbing products, and manufacturing of inorganic chemicals.

Indoor sources include infiltration of outdoor air, smoking, cooking, and other indoor sources. The average indoor concentration of zinc is normally slightly higher than the outdoor level. Zinc occurs naturally in the earth's crust.

The rapid growth in the Asian region is mainly the trigger for rise in global zinc consumption. Refined zinc output globally is expected to grow by a moderate 3 percent to 10.6 million ton in 2006; it may further move up to 11.0 million ton in 2007. Major producers in Asia are enhancing capacity to in tune with the demand for zinc in the coming years.

India is one of the fastest growing regions of zinc consumption in the world. Indian zinc demand is likely to grow 12-15 percent per annum compared with the global average of 5 percent. Growth in steel sector is the main factor behind the rise in domestic consumption as 70 percent of India’s zinc use is accounted by steel galvanizing.

India hopes to become self reliant in zinc production by 2010. Industry estimates place that India’s annual production has to touch 14 ton per year by 2020 if it has to sustain 10 percent growth till 2010 and at 7 percent rate thereafter.

Get the Indian Zinc Futures and Spot Prices Here!

The Indian zinc industry entered its transformation phase with the privatisation of the largest zinc producer, Hindustan Zinc Ltd, in favour of the Sterlite group in April 2002. The domestic zinc industry is now completely under the private sector and is in the midst of a serious expansion programme.

Even if one assumes that zinc demand grows by 10 per cent till 2010 and at slower 7 per cent thereafter, India would require zinc capacity of 14 lakh tpa by 2020, in order to be self-reliant. The next round of large capacity additions would, therefore, be warranted from 2008 onwards.

Factors Influencing Zinc Market

**Changes in inventory level at LME wharehouses
**Economic growth rate of major consuming countries
**Global growth and demand in major consuming industries
**Prices of the alternative metal(s)
**Participation of funds

Mcx Lead

Lead..........

Know Lead

Like copper, lead has also been a familiar metal used by human beings since ancient times. Lead, a highly malleable and easy to melt metal, is widely used in various industries even today. However, due to its highly toxic nature, the use of lead has been facing pressure from environmentalists in recent years.

The pressure to end manufacture of lead-based paints is an example of the growing concern on the potential health hazards caused by lead. Plastics, aluminum, tin, and iron are replacing the use of lead in construction materials, containers, packaging, etc. Tin and other metals are being used to replace lead as a solder in some applications where lead could poison people, such as in drinking water systems.

Lead is a very corrosion-resistant, dense, ductile, and malleable blue-gray metal that has been used for at least 5,000 years. Early uses of lead included building materials, pigments for glazing ceramics, and pipes for transporting water. The castles and cathedrals of Europe contain considerable quantities of lead in decorative fixtures, roofs, pipes, and windows.

Get all the news, analysis, views and features on Lead here!

Prior to the early 1900's, uses of lead in the United States were primarily for ammunition, brass, burial vault liners, ceramic glazes, leaded glass and crystal, paints or other protective coatings, pewter, and water lines and pipes.

The advent of the electrical age and communications, which were accelerated by technological developments in World War I, resulted in the addition of bearing metals, cable covering, caulking lead, solders, and type metal to the list of lead uses. With the growth in production of public and private motorized vehicles and the associated use of starting-lighting-ignition (SLI) lead-acid storage batteries and terne metal for gas tanks after World War I, demand for lead increased.

Most of these uses for lead continued to increase with the growth in population and the national economy. Contributing to the increase in demand for lead was the use of lead as radiation shielding in medical analysis and video display equipment and as an additive in gasoline.

By the mid-1980's, a significant shift in lead end-use patterns had taken place. Much of this shift was a result of the U.S. lead consumers compliance with environmental regulations that significantly reduced or eliminated the use of lead in nonbattery products, including gasoline, paints, solders, and water systems.

More recently, as the use of lead in nonbattery products has continued to decline, the demand for lead in SLI-type batteries has continued to grow. In addition, the demand for lead in non-SLI battery applications also has continued to grow.

Non-SLI battery applications include motive sources of power for industrial forklifts, airport ground equipment, mining equipment, and a variety of nonroad utility vehicles, as well as stationary sources of power in uninterruptible electric power systems for hospitals, computer and telecommunications networks, and load-leveling equipment for electric utility companies. By the early 2000's, the total demand for lead in all types of lead-acid storage batteries represented 88% of apparent U.S. lead consumption.

Other significant uses included ammunition (3%), oxides in glass and ceramics (3%), casting metals (2%), and sheet lead (1%). The remainder was consumed in solders, bearing metals, brass and bronze billets, covering for cable, caulking lead, and extruded products.

Get India Futures and Spot Prices on Lead Here!

Lead is mined in the United States, Canada, Mexico, Australia, and Peru. More than 1 million tons of lead is recovered in recycling annually, the majority of which is from the recycling of batteries.

Australia and China are the leading suppliers of lead in the world. China, India, Japan, US and European Union are the main consumers of lead in the world. Lead is traded mostly as soft lead, animated lead, lead alloys and copper-based lead scrap.

India imports nearly 50 percent of its lead requirement every year. Lead production in India is estimated to be around 82,000 ton, mostly from secondary sources. Lack of any major lead ore deposit is the main constraint for enhancing domestic lead production.

The domestic industry is characterized by the presence of only a few players in the primary segment. The primary lead industry in India is divided between the following main players: Binnani Industries Limited and Saterlite Industries (India) Ltd. (Hindustan Zinc Ltd.). Due to increasing use of lead in domestic market both players are expanding their smelting capacities for lead.

Lead in the global market is traded as soft lead, animated lead, lead alloys and copper-base scrap.

Mcx Gold

Gold...........



Gold prices on Saturday plunged to a six-month low of Rs 30,390 per 10 grams due to brisk selling by stockists on fall in demand amid weak global trend.

After losing Rs 175 in the last two sessions, the precious metal fell further by Rs 235 to Rs 30,390 per 10 grams, a level last seen on August 16 last year.

Bullion merchants said demand for the precious metals dried up after end of the marriage and festive season which normally boost the buying activity.

They said a weak trend in the overseas markets where gold dipped below $1,600 an ounce after Federal Reserve Chairman said the US economy is recovering, also reduced demand for the metals as an alternate investment option.

Meanwhile, the world's largest gold investors offloading their holdings in exchange-traded products backed by gold last quarter, further influenced the market sentiment, they added.

Billionaire investors George Soros and Louis Moore Bacon cut their stakes in exchange-traded products backed by gold last quarter as the prices dropped the most in more than eight years.

With a general weakening trend, silver prices also declined sharply on reduced offtake by industrial units and coin makers.

On the domestic front, gold of 99.9 and 99.5 per cent purity dropped by Rs 235 each to Rs 30,390 and Rs 30,190 per 10 grams, respectively. Sovereigns lost Rs 50 to Rs 25,200 per piece of eight grams.

Silver ready fell by Rs 570 to Rs 56,530 per kg and weekly-based delivery by Rs 1,315 to Rs 56,060 per kg on the lack of buying by speculators.

As the seasonal demand tumbled, silver coins dropped by Rs 2,000 to Rs 78,000 for buying and Rs 79,000 for selling of 100 pieces.

Mcx copper

copper........




Freeport-McMoRan Copper & Gold Inc. announced today the completion of agreements with two bank syndicates providing committed financing for a $4 billion bank Term Loan and a new $3 billion Revolving Credit Facility in connection with FCXs proposed acquisitions of Plains Exploration & Production Company and McMoRan Exploration Co.

The Term Loan will be drawn at the closing of the acquisitions and may be used to fund the cash portion of the acquisitions, refinancing of certain debt outstanding at PXP and MMR or for general corporate purposes. The Term Loan will mature five years from the date of the first borrowing and will bear interest determined by reference to FCXs credit ratings (currently LIBOR + 1.50%).
In connection with the completion of the Term Loan, lender commitments under FCXs acquisition bridge facilities have been reduced from $9.5 billion to $5.5 billion. In addition, FCX has entered into agreements for a new five-year $3 billion Revolving Credit Facility, which will replace FCXs existing $1.5 billion revolving credit facility on completion of the PXP transaction.
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Aluminum

Aluminium....

Kaiser Aluminum Corp today reported net income of $86 million, or $4.45 earnings per diluted share, for the year ended December 31, 2012 compared to $25 million, or $1.32 earnings per diluted share, for the prior year ended December 31, 2011. Excluding the impact of non-run-rate items, adjusted net income was $74 million, or $3.82 per diluted share, for the full year 2012 increasing approximately 76% from the prior year adjusted net income of $42 million, or $2.20 per diluted share.

Value added revenue was a record $736 million for the full year 2012, up 14% over the prior year, reflecting strong aerospace demand and an improved pricing environment compared to 2011. Adjusted consolidated EBITDA was $174 million, up 56% compared to $111 million in the prior year, setting another new record for the Company in 2012. Adjusted EBITDA margin on value added revenue was 23.6% compared to 17.3% for the full year 2011, reflecting significant year-over-year improvement.
Jack A. Hockema, President, CEO and Chairman said at the occasion that "Our record 2012 results demonstrated a step-change in growth and performance. Strong aerospace and automotive demand, improved pricing, increased overall operating leverage, and improved underlying manufacturing cost performance across our platform drove the significant change in results compared to 2011, the step-change in performance further demonstrates value created from the significant capital investments we have made since 2006 to increase capacity, enhance our capabilities, expand and differentiate our product offering, and improve manufacturing efficiencies.
As we look forward, the underlying fundamentals of our aerospace and automotive end markets provide opportunity for continued long term growth, and we have significant potential to continue to enhance our top line and bottom line operating performance. The recent 20% increase in our quarterly dividend further illustrates our confidence in the Companys long-term prospects."
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Mcx Gold

Gold......



Gold futures were supported above the $1600 an ounce levels in mid Asia session today taking cues from the rally in Asia equities and weakness in the US dollar.
However, strength in the Japanese Yen might hurt the yellow metal. The Japanese currency appreciated against the dollar after comments from Japans Prime Minister Shinzo Abe. He reportedly said Wednesday that the need to set up a public-private fund to buy foreign bonds has declined, sending the yen higher against the U.S. dollar.

The remarks come just two days after Abe had said that the bond purchases -- a controversial move that could potentially weigh on the yen as Japan buys assets denominated in a foreign currency -- were a policy option for the Bank of Japan. The U.S. dollar slid to 93.13 yen, from around 93.42 yen just before Abes comments.
Gold for delivery in April is trading up $3.7 at $ 1607.9 an ounce on the Comex division of the New York Mercantile Exchange. The precious metal fell $5.30, or 0.3%, to settle at $1,604.20 an ounce for its fourth straight loss, although it managed to hold above $1,600 through the trading session.
The settlement was the lowest for a most-active gold futures contract since Aug. 14. Prices lost $26 on Friday, and U.S. markets were closed for Presidents Day on Monday.
On the US economic front later this week, included January housing starts on Wednesday, and the Philadelphia Fed index and leading indicators, both slated for Thursday.
MCX April gold futures opened lower today despite gains in the international counter. It was recently seen trading at Rs 29990 down nearly Rs 65 per 10 grams. The traders may buy it at current levels with the target of Rs 30040 and Rs 30090 and stop loss of Rs 29920. Yesterday, it closed lower by Rs 124 at Rs 30,052 per ten grams. Prices rose to a high of Rs 30,220 per 10 grams and fell to a low of Rs 29,977 per 10 grams during the days trading.
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