INDUSTRY UPDATES on 14th March, 2013

INDUSTRY UPDATES on 14/03/2013

Aluminium futures down 0.19 pc on global cues

 Taking weak cues from global markets, aluminium prices fell marginally to Rs 105.65 per kg in futures trading today as speculators offloaded their positions. 

Further, sluggish demand in the domestic spot markets also weighed on the metal prices. 

At the Multi Commodity Exchange, aluminium for delivery in March declined by 20 paise, or 0.19 per cent, to Rs 105.85 per kg in business turnover of 389 lots. 

Similarly, the metal for delivery in April traded lower by 15 paise, or 0.14 per cent, to Rs 107.35 per kg in 19 lots. 

Globally, aluminium lost 0.8 per cent to $1,966 per tonne. 

Market analysts said the weakness in aluminium at futures trade was mostly in tandem with a downtrend in base metals at the London Metal Exchange and subdued spot demand.

Thermal Power plants worried about Indonesian coal curbs

 India's thermal power plants that import coal are concerned that more restrictions from Indonesia, a key supplier, will put more pressure on electricity generation, which is already suffering from problems including fuel scarcity. 

Power producers are concerned as the economic counsellor at the Indonesian embassy in India, Otto Riadi, was quoted in an agency report as saying that exports of some grades of coal would not be allowed and the fuel would be used to generate power in Indonesia. This would be applicable to traders, not companies that have mines, the diplomat clarified.

Corn to be exported to China in rare deal: Trader

Traders have struck a rare deal to export 13,700 tonnes of corn to China, the world's second largest consumer of the grain, traders said.


on 14th March, 2013

VESSEL TYPE       :         USD $ / LT

DRY SHIP                         390 - 400

BOX SHIP                         420 - 435

TANKER                           430