Hindustan Copper to outsource processing

December 10, 2009: Indian state-run Hindustan Copper Ltd plans to outsource processing of 55,000 tons of copper concentrates into copper cathodes, to help it retain its position in the refined metal market even as its largest smelter remains shut, its chairman said.

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300,000 tons of bauxite deposits found in Chhattisgarh

December 9, 2009: A new reserve of about 300,000 tons of bauxite ore has been found in Chhattisgarh's Maoist stronghold of Bastar, mining officials said Wednesday.

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Jaypee group plans 12 mtpa cement projects in Gujarat

December 3, 2009: Jayprakash Associates Limited (JAL) has chalked out plans to set up three cement plants in Gujarat with an overall capacity to produce about 12.2 million tons per annum (mtpa). For this, the company is likely to invest close to over Rs 6,500 crore over the next few years.

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Balco stake sale may fetch up to Rs 3000 cr

December 2, 2009: The government could mop up close to Rs 3,000 crore from the sale of its residual stake in Bharat Aluminium Company (Balco) to Sterlite, if it is able to sell its holding at the price suggested by an independent valution of the company's shares.

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Cement dispatches rise in Nov

December 2, 2009: Leading cement manufacturers have reported growth in dispatches during November, compared with the same month last year.

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Nalco to invest Rs 22k cr for setting up plants in AP Orissa

December 1, 2009: State-run aluminium producer Nalco will spend about Rs 22,000 crore in setting up two mega projects, one each in Andhra Pradesh and Orissa, the Lok Sabha was informed today.

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Aluminium demand may rise in 2010

November 27, 2009: Aluminum consumption in Asia may continue to grow next year

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VAL may get nod for bauxite mining in Orissa for its refinery

November 27, 2009: BHUBANESWAR: Vedanta Aluminium Limited (VAL) is expecting early nod from the Union government to mine bauxite for its Lanjigarh refinery in Orissa's
Kalahandi district.

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Nalco announces cash incentive for fly ash disposal

November 26, 2009: Navratna aluminium giant National Aluminium Company (Nalco) has decided to give cash incentive for disposal of fly ash, about 7,000 million tonnes (MT) of which is generated at its 1,200 Mw thermal captive power plant here everyday.


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Nalco, Hind Copper scout for copper mines in Namibia

November 25, 2009: National Aluminium Co (NALCO) the largest state owned aluminium producer and Hindustan Copper the country's only copper mining company are jointly scouting for acquisition of copper reserves in Namibia.

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TN Chamber seeks early completion of rail projects

November 24, 2009: The Tamil Nadu Chamber of Commerce and Industry (TNCCI) has urged the Union Finance Minister, Pranab Mukherjee and the Railway Minister, Mamata Banerjee, to allot funds required for the early completion of all ongoing Railway projects in the State.

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HZL revises prices upwards

November 20, 2009: Leading Indian integrated zinc and lead producer the Hindustan Zinc Limited (HZL) has revised its zinc prices upwards

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Cement production to rise by over 10% this fiscal

October 25, 2009: Cement production of India, the world's second largest producer, is estimated to rise by over 10 percent to 200 million tons (mt) in 2009-10, according to industry's projection.

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UltraTech's Q2 net rises 53%

October 17, 2009: UltraTech Cement, the country's largest cement maker capacity-wise, has posted a 53 percent rise in its profit after tax

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Grasim spins off cement biz into 100 percent subsidiary

October 4, 2009: The $28-billion Aditya Birla Group said that it was spinning off the cement business of Grasim Industries into a wholly-owned subsidiary Samruddhi that will eventually be merged with the group's Ultratech Cement to maximise shareholder value and consolidate its cement business.
 

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Cement production up 17.6 pc in August

September 26, 2009: Getting back its momentum, India's cement production rose by 17.6 percent in August over the same month last year due to robust demand from the construction sector.

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Scrap importers duped of millions

September 26, 2009: Scrap importers were in for a shock when as many as 600 heavy metal scrap (HMS) containers were found empty at Indian ports Jawaharlal Nehru Port Trust (JNPT) and Chennai. Although, the Indian importers are yet to be identified, they are believed to have incurred losses to the tune of millions of dollars following the fraud.

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Copper rises $50 on hopes of economic rebound

September 16, 2009: Copper climbed in London, ending a four-day losing streak, before a report expected to show stronger retail sales in the US, adding to indications of an economic rebound.

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Govt weighs Nalco, Hind Copper JV to tap synergy

September 13, 2009: The government is mulling a joint venture between National Aluminium Co and Hindustan Copper Ltd as one of the options to revamp the state-owned copper producer, a senior mines ministry official said.

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Adhunik arms to invest Rs 3,350 cr in 2 yrs

September 12, 2009: Adhunik Metaliks' subsidiaries, Orissa Manganese & Minerals Ltd and Adhunik Power & Natural Resources, will be investing Rs 3,350 crore in mining and power over the next two years.

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Cement sales fall in Aug as demand slows

September 6, 2009: Cement demand seems to have tapered off in August

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Rungta Mines plans Rs 600-cr cement unit in Orissa

August 20, 2009: Iron ore mining firm Rungta Mines (RML), the flagship company of SR Rungta group, plans to set up a 1-million-ton cement plant in Orissa with an investment of around Rs 600 crore, a top company executive said.

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Poor monsoon may hurt cement demand

August 20, 2009: The cement industry that saw rural demand driving its impressive 12% growth last fiscal does not foresee any significant impact of a weak monsoon on demand.

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Sterlite matches Grupo's Asarco bid

August 20, 2009: Sterlite Industries and Grupo Mexico continued their seemingly endless rounds of bid and counter-bids for Asarco, with the Indian company matching its rival's $2.2-billion offer for the US-based copper miner.

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No stake sale in Nalco; govt to revamp Hindustan Copper

August 20, 2009: The government is not considering further disinvestment in aluminium major Nalco and Hindustan Copper even as operations of the copper producer are set to be revamped. Industry observers were anticipating further divestment in the two public sector companies.

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Idco to join Nalco as JV partner in aluminium park

August 20, 2009: The proposed aluminium park of the public sector National Aluminium Company (Nalco) at Angul in Orissa, which was mired in uncertainty, is finally set to see the light of the day.

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Natural rubber prices to rise further on low output

August 18, 2009: The natural rubber (NR) market, which on August 17 quoted Rs 102 a kg for RSS-4 grade

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Truant monsoon dampens cement prices

August 18, 2009: The weak monsoon has taken its toll on cement prices which are down Rs 8-10 a 50-kg bag in the southern market and by Rs 3-5 in the western and eastern regions.

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India copper hits 11-month high on demand outlook

August 16, 2009: Copper futures hit its highest level in 11 months on August 14

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Spot rubber rules firm

August 15, 2009: The physical rubber prices ruled steady on August 15. The market failed to improve further

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L&T, BHEL bid for Mahagenco order

August 14, 2009: Heavy engineering and equipment maker Larsen & Toubro, the state-owned Bharat Heavy Electricals (BHEL) and South Korea's Doosan Heavy Industries & Construction are some of the firms that have bid for the boiler-turbine-generator (BTG) supply order for Maharashtra State Power Generation Company's (Mahagenco) proposed 1,980-mw thermal power plant at Koradi in Nagpur.

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Base metals surge on weak dollar, supply woes

August 14, 2009: Base metals on MCX surged on Thursday tracking London Metal Exchange prices, which gained led by the dollar's weakness against the euro, encouraging Euro zone gross domestic product data, and news of likely supply disruption in nickel, analysts said.

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HZL, Balco govt stake acquisition may happen next year: Vedanta chairman

August 13, 2009: Being positive about Vedanta Resources's possible acquisition of remnant government stake in its group firms Balco and Hindustan Zinc (HZL), the company's chairman, Anil Agarwal said that the deal may be struck by next year.

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Nalco Rs 20,000 crore overseas projects delayed due to policy hurdles

August 13, 2009: National Aluminium Company Ltd's (NALCO) greenfield projects in overseas markets like Indonesia and Iran are in limbo because of political and policy hurdles in those countries.

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Nickel imports seen up 15-20%

August 13, 2009: India's nickel imports are expected to rise 15-20 percent in August-December as against last year, because of robust demand for steel, particularly from the infrastructure sector, said traders and importers.

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Hind Copper hit by water scarcity at Madhya Pradesh mines

August 13, 2009: The production of copper concentrate at public sector Hindustan Copper Ltd's Malanjkhand mines in Madhya Pradesh was severely affected by water scarcity in first three months of the current financial year.

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Higher demand, lower input costs bring relief to metal cos

August 13, 2009: The numbers for the June quarter of FY10 have brought some cheer to metal companies, especially steel producers. Higher domestic demand, improved prices compared to previous quarters coupled with a fall in input costs have helped the sector report better numbers.

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Hindustan Copper net drops

August 12, 2009: Hindustan Copper has announced its un-audited results for the first quarter ended June 30.

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Fresh Naxal threat to Nalco mines complex

August 12, 2009: Public sector National Aluminium Company (Nalco) has come under fresh threat of naxal attack with the red rebels issuing an ultimatum to the company authorities to fulfill certain demands relating to the contract labourers and peripheral development.

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Sterlite sweetens offer price for Asarco assets

August 12, 2009: The battle for US copper mining firm Asarco is expected to be over by the end of this month with the bidders, Sterlite Industries and Grupo Mexico, revising their offers.

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Infrastructure projects boost cement cos' realization

August 11, 2009: Cement companies seem to have benefited the most in the first quarter of financial year 2009-10 from the slew of infrastructure projects announced by the Government.

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JK Cement bullish on growth, eyes new units

August 11 2009: Cement major JK Cement, which has a presence in both grey and white cement segments, is expecting to commission its grey cement plant at Bagalkot, north Karnataka within the next few months, and expand operations to more locations. The Karnataka plant is being undertaken through the company's subsidiary, Jaykaycem.

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Policy hurdles delay NALCO's Rs 20,000 cr overseas projects

August 10, 2009: National Aluminium Company Ltd's (NALCO) greenfield projects in overseas markets like Indonesia and Iran are in limbo because of political and policy hurdles in those countries.

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NTPC likely to set up power plants in Nigeria and Sri Lanka

August 9, 2009: National Thermal Power Corporation Limited (NTPC), country's largest power utility, is likely to set up power plants in Nigeria and Sri Lanka, a top NTPC official said.

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GAIL pacts for gas supply

August 9, 2009: GAIL (India) Ltd has signed a gas sales and transmission contract (GSTC) with Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RRVUNL) for supply of natural gas for 160 MW plant of RRVUNL at Ramgarh.

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No relenting on gas price, says NTPC

August 9, 2009: In the face of Oil Minister's comment that RIL gas to NTPC could be given at a government-approved price, the state-owned power major today said it will continue to fight legally for the fuel's contracted price and seek Power Ministry's help.


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July show: Cement companies deliver a mixed bag

August 05, 2009: Cement makers have come up with a mixed show in July with several players registering a decline in month-on-month growth, while others showing an increase.

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Harbinger backs Sterlite in Asarco acquisition

August 05, 2009: Sterlite Industries, the flagship firm of London-listed Vedanta, may get the support of rival bidder Harbinger Capital Partners in its takeover plan for the bankrupt US copper mining firm, Asarco. Harbinger has decided to withdraw from the race, informing the bankruptcy court that its plan to restructure Asarco should not be considered.

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L&T bags orders worth Rs 853 crore

August 5, 2009: Larsen & Toubro has won orders worth Rs 853 crore for setting up two coal handling plants.

The orders are from UP Rajya Vidyut Utpadam Nigam and Neyveli Lignite Corporation, it said in a statement to the stock exchanges.

Source: The Economic Times

Work on Utkal Alumina refinery resumes

August 04, 2009: The civil construction of the Rs 5000-crore alumina refinery project of Utkal Alumina International Limited (UAIL), a subsidiary of the Aditya Birla Group (ABG), near Kasipur in Orissa's Rayagada district has resumed after being stalled for about two months.

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China the main catalyst for strong advances in copper

August 04, 2009: If the IMF forecast of the world economy contracting 1.4 percent this year comes true, the shrinkage will occur for the first time since 1945. How then, in this recessionary environment, the base metal copper could see a rally of over 80 percent since January with its price at one point hitting a year high of $5,645 a ton.

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Ambuja Cements production in July up at 14.39-lakh tonnes

August 4, 2009: Cement major, Ambuja Cements, on Monday said that its production for the month of July stood at 14.39-lakh tonnes as against 13.95-lakh tonnes in the year-ago period.

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Nalco aluminium production up 20.46 per cent

August 4, 2009: National Aluminium Company Limited (Nalco), the navratna PSU and India''s leading producer and exporter of alumina and aluminium, has registered a 20.46 per cent increase in aluminium production in the 1st quarter ended June 30.

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India Cements' sales rise 20% in July

August 4, 2009: Expanded production capacity and entry into new markets have contributed to India Cements' monthly dispatch in July exceeding a million tonnes.

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Jaiprakash Associates signs deal with AMDC to set up cement plant

August 2, 2009: Jaiprakash Associates Ltd (JAL), the flagship company of the diversified industrial conglomerate Jaypee Group, has inked a MoU with state-owned Assam Mineral Development Corporation Limited (AMDC) for setting up a 2 million tons per annum capacity cement plant.

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RINL enters into joint venture with Manganese Ore India Ltd

August 2, 2009: Public sector steel major Rashtriya Ispat Nigam Ltd (RINL) has entered into a joint venture with Manganese Ore India Ltd (MOIL) to form 'RINMOIL Ferro-Alloys (Private) Ltd', to produce ferro alloys.

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Hindalco's June quarter result beats expectation

August 1, 2009: Hindalco Industries, the lowest cost aluminium producer in the country, has reported better than expected performance during the quarter ended June 2009.

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Vedanta sees overall Q1 growth in mining segments

August 1, 2009: Anil Agarwal-run Vedanta Resources Plc today reported an increase in production of aluminium and zinc, copper, iron ore from its operations for the first quarter of 2009-10 financial year.

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Essar Oil picks up 50% stake in Kenya-based refinery

August 1, 2009: Ruias-owned Essar Oil today announced acquisition of 50 percent stake in a 4 million-ton oil refinery in Kenya. The company acquired 50 percent stake of western energy majors Shell BP and Chevron in Kenya Petroleum Refineries Ltd, Essar said.

Source: Business Standard

ONGC gets nod to partner L.N. Mittal for Kazakh venture

August 1, 2009: The government has given ONGC its approval to partner Lakshmi N. Mittal for buying 25 percent stake in Kazakhstan's prospective Satpayev oilfield in the Caspian Sea.

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Ess Dee Aluminium eyes Italian acquisition

July 28, 2009: Ess Dee Aluminium is in advanced talks to buy Comital, an Italian firm almost five times its size, for $125 to $150 million.

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Spot rubber turns weak

July 26, 2009: Physical rubber prices turned weak on25 July. According to observers, the market fell on buyer resistance following favourable weather.


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NALCO sells aluminium at $84.66/T premium: Source

July 25, 2009: National Aluminium Co Ltd (NALCO) sold 4,500 tons of primary aluminium ingots at a premium of $84.66 per ton to the LME cash price on a CIF basis, a senior company source said.

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India Cements operating margin slips

July 24, 2009: India Cements only partially benefited from strong demand conditions in the June 2009 quarter. The company's operating margin declined 160 basis points year-on-year to 30.5 percent despite a 9.6 percent rise in total income to Rs 960.25 crore.

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Binani Cement plans $125-million expansion

July 24, 2009: Binani Cement Ltd (BCL) plans to invest $125 million for expansion of its cement manufacturing capacity from 0.50 million tons (mt) to 3 mt at its Chinese subsidiary, Shandong Binani Rong'An Cement Co Ltd.

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Vedanta plans Rs 43,000-crore expansion

July 21, 2009: Vedanta Resources, billionaire Anil Agarwal's metal and mining company, has planned large expansions and acquisitions to enter the top five league in the global production of aluminium, copper and zinc by 2013.

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R-ADAG forays into cement; lines up Rs 2k-cr investment

July 18, 2009: The Reliance Anil Dhirubhai Ambani Group (ADAG) has forayed into the cement business by announcing its plans to set up a five-million tons integrated plant and a grinding unit in Maharashtra with an investment of Rs 2,250 crore.

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Hindalco shuts alloy wheel unit

July 18, 2009: Hindalco Industries has shut down an aluminium alloy manufacturing plant located at Silvasa in Gujarat having a total capacity of three lakh wheels per annum.

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GAIL to lay down 600-km long gas pipeline in MP

July 17, 2009: Gas Authority of India Limited (GAIL) will lay down a 600-km long gas pipeline from Jhabua to Kailaras in Madhya Pradesh at an estimated cost of Rs 3,000 crore, a top company official said today.

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GAIL to lay down 600-km long gas pipeline in MP

July 17, 2009: Gas Authority of India Limited (GAIL) will lay down a 600-km long gas pipeline from Jhabua to Kailaras in Madhya Pradesh at an estimated cost of Rs 3,000 crore, a top company official said today.

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Vedanta's India bauxite mining to begin by October

July 11, 2009: Vedanta Resources Plc will begin bauxite mining for its alumina plant in eastern India by October and will invest $1.23 billion to expand its capacity six-fold by 2011, a top company official said.

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Nalco awaits Centre's nod for bauxite mining in AP

July 11, 2009: The National Aluminium Co (Nalco) has moved a step forward in its effort to obtain bauxite mining leases in districts of Visakhapatnam and East Godavari in Andhra Pradesh.

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Call for clarity, consistency in excise duty on cement

July 5, 2009: The cement industry is hoping as much for clarity and consistency in excise duty as abatement and concessions, according to a cross section of manufacturers.

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Marginal rise in ACC sales in June

July 4, 2009: ACC, one of the country's largest cement producers, has reported a marginal rise of 1 percent

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Hindalco plans QIP to raise up to $500 million

July 3, 2009: Hindalco Industries, the Aditya Birla group flagship, has decided to raise up to $500 million (around Rs 2,400 crore) through a qualified institutional placement (QIP) of equity shares.

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Hindalco, Novelis to relocate Europe units

July 2, 2009: The Aditya Birla group flagship Hindalco and its Canadian subsidiary, Novelis are planning to relocate some of its European plants to India. The rising cost of operations and declining sales in Europe and a booming Indian market for Novelis' products are driving the relocation initiative.

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Cement prices may dip soon

June 29, 2009: Cement prices are expected to soften Rs 3 to 5 per 50-kg bag next month due to the twin effects of excess supply and lower demand, according to industry officials and dealers.

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PSU consortium, OPAL in talks for raw material sourcing

June 27, 2009: The consortium formed by Gujarat Alkalies & Chemicals Ltd (GACL), Gujarat State Fertilisers & Chemicals (GSFC) and Gujarat Narmada Valley Fertiliser Company (GNFC) is in talks with ONGC Petro Additions Ltd (OPAL) for sourcing raw materials.

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Grupo Mexico revises offer for Asarco

June 27, 2009: Grupo Mexico has revised its offer to outbid rival Sterlite Industries in the race to acquire US-based copper miner Asarco.

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Kesoram Industries plans Rs 1,550 cr investment

June 27, 2009: This investment might well be all about timing. With grandson Kumar Mangalam now on course to assuming the reins at Kesoram Industries, what could be more befitting for the 89-year Birla patriarch and doting grandfather than to pump in a cool Rs 1,550 crore into the group flagship to ensure GenNext is well taken care of.

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Cement firms importing clinker at uniform price

By Rajkumar Mitra

June 26, 2009: Cement companies are importing clinker from all over the world at the same import price, in an example of high level of awareness of purchasers.

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Hitting on the right price

June 26, 2009: Purchasers are always on the look out to buy at prices lower than their previous purchases, provided market conditions are conducive for doing so. Obviously, this does not apply fully for project procurement which is generally a one-time buy, but would definitely apply for all commodity type items which he buys regularly.

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Stable metal prices expected

June 25, 2009: Commodity prices are expected to be stable and are expected to ease in near future.

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Aditya Birla group to consolidate cement business

June 25, 2009: The Aditya Birla group, the country's second largest cement maker, is looking at consolidating its cement business, following the exit of Larsen & Toubro (L&T) from UltraTech.

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Chettinad Cement loss at Rs 4.21 crore

June 24, 2009: Chettinad Cement Corporation has reported a loss of Rs 4.21 crore in the year ending March 31, 2009 against a net profit of Rs 163.77 crore in the previous year.

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Nalco adds 120 MW capacity at Angul unit

June 22, 2009: State-run National Aluminium Co Ltd (Nalco) has added 120 MW capacity at its captive power plant under the ongoing second phase of expansion.

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Ess Dee Aluminium to invest Rs 200 cr in Hoera unit

June 22, 2009: Ess Dee Aluminium, which recently acquired India Foils (IFL), has firmed up plans to pump in nearly Rs 200 crore to add fresh capacity at the latter's Hoera unit.

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Dumping duty mooted on polypropylene imports

June 21, 2009: Based on a petition filed by Reliance Industries Ltd (RIL), the Designated Authority in the Commerce Ministry has recommended imposition of provisional anti-dumping duty on imported polypropylene (PP) from Oman, Saudi Arabia and Singapore.

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HEC may see positive net worth this fiscal

June 20, 2009: Heavy Engineering Corporation (HEC) is hopeful of achieving positive net worth during this fiscal itself as the Centre and the State have agreed to submit affidavits to the Jharkhand High Court in July, committing themselves to implementation of the final part of the debt restructuring and capital infusion plans.

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Centre may levy anti-dumping duty on polypropylene

June 19, 2009: The Ministry of Commerce has issued a notification recommending a provisional anti-dumping duty on polypropylene (PP) imported from Saudi Arabia, Oman and Singapore.

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Cement firms against higher excise duty

June 18, 2009: Domestic cement makers have expressed strong reservations to any move to increase excise duty on cement. They said it would be unfair for the government to target an industry which has managed to do so well in these troubling times.

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Hindalco set to buy Australian coal mine

June 18, 2009: Hindalco Industries is close to acquiring a coal mine in Queensland, Australia, in a deal estimated at $70 to $80 million (about Rs 336-385 crore).

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RSP changes ways to fight recession

June 15, 2009: Cost reduction efforts are now just another routine activity at Rourkela Steel Plant (RSP). The plant has taken several different steps - both short term and long term - in its efforts.

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Ferro alloy exchange centre in Tianjin

June 15, 2009: China has launched the "Tianjin Far-East Ferroalloys Exchange Centre" at a capital investment of CNY 100 million.

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Manganese alloy prices improve

By Gilbert Lobo

June 15, 2009: Manganese alloy producers are seeing better days as price of ferro manganese is now over Rs 42,000 to Rs 43,000 per ton, and silico manganese has also edged up to Rs 37,000 to 38,000 per ton ex works free of taxes.

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Domestic ferro chrome moving up

By Gilbert Lobo

June 15, 2009: High carbon ferro chrome producers are seeing better days with domestic prices moving up to Rs 44,000 to Rs 45,000 per ton ex works, without taxes.

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Base metals may extend gains; farm futures mixed

June 14, 2009: Bullion and crude oil prices are likely to trade in a range with a positive bias next week, while base metals are likely to extend last week's gains.

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BHEL bags Rs 4000 crore Hindalco contract

June 13, 2009: Bharat Heavy Electricals Ltd (BHEL) has bagged a Rs 4,015-crore order from Hindalco Industries for supplying boilers, turbines and generators at its 900 mw captive power plant in Orissa.

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PVC prices rise as demand keeps up

June 12, 2009: Rising commodity prices typically lead to a fall in demand from the user industry. Not so in the case of polyvinyl chloride (PVC), which has risen to Rs 36,500 per ton, from Rs 28,000 at the end of the last year.

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Cement industry seeks subsidy on freight for exports

June 12, 2009: The domestic cement industry has asked for a 50 percent subsidy on freight on the logistics cost for cement and clinker for exports in the upcoming budget in July.

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L&T to sell its stake in UltraTech Cement

June 11, 2009: Larsen & Toubro (L&T) is close to pulling out of Aditya Birla Group firm UltraTech Cement by selling its entire 11.5 percent stake, bringing the curtains down on a six year old acrimonious relationship.

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Vedanta Alumina investment on track

June 7, 2009: London-based Vedanta Alumina Ltd (VAL) has ruled out any slowdown on investment on its projects and retrenchment of employees even as it's production has been hit tremendously by the current global meltdown.

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Nalco Angul project uncertain

June 7, 2009: The proposed aluminium park of the public sector metal major, National Aluminium Company (Nalco) at Angul in Orissa has run into uncertainty, with the state unwilling to join the project as a joint venture partner.

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Rio Tinto's approach correct

June 6, 2009: Rio Tinto is right to scrap plan A and pursue plan B.

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No Chinalco deal for Rio Tinto

June 6, 2009: Rio Tinto Group, the world's third-largest mining company, scrapped an investment from Aluminum Corp of China in favour of raising $21 billion from a share sale and an iron ore venture with BHP Billiton Ltd.

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Aluminium gains on LME

June 6, 2009: Aluminium rose in London, heading for the biggest weekly gain in 21 years, as inventory figures signaled a possible pick up in demand for the lightweight metal.

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Sales up for cement firms

June 2, 2009: If the production and sales figures for cement companies in May are anything to go by, the industry could be emerging from the slowdown.

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Royalty on iron ore, zinc, copper likely to be revised upwards

May 31, 2009: The government may soon increase the royalty rates on extraction of minerals like copper, iron ore and zinc to enrich the exchequers of states possessing these resources.

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Orissa puts on hold Hindalco, Vedanta refinery expansion

May 30, 2009: The Orissa government has put on hold Hindalco industries and Vedanta Aluminium's expansion plans of their refineries in the state even as it approved investment of Rs 2,859 crore in steel sector, official sources said.

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Nalco slashes prices

May 27, 2009: National Aluminium Company Ltd (Nalco) has cut prices of its products by up to Rs 5,000 a ton.

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Hindustan Zinc slashes zinc prices

May 26, 2009: Vedanta Resources group firm Hindustan Zinc said it has cut the prices of zinc, used for producing galvanised steel, by Rs 1,100 to Rs 89,200 per ton.

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Baltic Dry Index improves

May 24, 2009: The Baltic Dry Index which measures the cost of moving dry cargo by sea gained by a 79 points on a single day to record 2786 points on 22 May.

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Need to improve ore quality to ensure profitability

May 24, 2009: With steel industry making a mad scramble for top grade iron ore amid depleting reserves, there's an urgent need to improve ore quality at reduced costs to ensure steel makers remain profitable.

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Metal firms sell power during demand slump

May 20, 2009: Metal producers are selling their surplus power to compensate the losses from production cuts due to slowing of demand.

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Vedanta Resources to spend Rs 42 cr on Kalahandi development

May 19, 2009: Vedanta Resources - which is setting up an alumina refinery at Lanjigarh in Orissa's Kalahandi district - will invest about Rs 42 crore this year on peripheral development around the plant as part of its corporate social responsibility (CSR) initiative.

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Cement oversupply may pull down prices

May 18, 2009: Oversupply in cement in 2009-10 could depress prices and squeeze margins by 2 to 5 percent, estimate research analysts.

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Oil prices up in Asian trade

May 16, 2009: Oil prices were up in Asian trade after US stocks rebounded from a heavy sell-off as investors looked ahead for an economic recovery.


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GTL bags Rs 324-cr Maharashtra electricity deal

May 16, 2009: GTL Ltd has entered the domain of distribution and transmission networks for power utilities. It has been awarded contracts worth Rs 324 crore from Maharashtra State Electricity Distribution Co Ltd (MSEDCL).

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Ministry slaps duty on caustic soda imports from EU, Indonesia

May 16, 2009: The Finance Ministry has imposed definitive anti-dumping duty on caustic soda (sodium hydroxide) imports from the European Union (excluding France) and Indonesia. This duty would be effective for a period of five years, unless revoked earlier.

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Chettinad Cement to hike capacity in Tamil Nadu

May 15, 2009: Chettinad Cement Corporation Ltd plans to add a 2-million tons per annum (mtpa) cement production line at its Dindigul unit in Tamil Nadu.

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Elecon Engineering plans mineral beneficiation foray

May 15, 2009: Elecon Engineering Company Ltd - one of the leading players in material handling equipments space - seem to be constantly scouting for new areas of growth.

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Expansion on track for Ultratech

May 14, 2009: Ultratech Cement - the second-largest manufacturer after Holcim's ACC in terms of sales and capacity - does not intend to rein in expansion plans even though the domestic market is likely to see over-capacity in the next few quarters.

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Nalco resumes full operation at Panchpatmali mines

May 13, 2009: National Aluminium Company (Nalco) has resumed full-fledged operations at its Panchpatmali mines, about 16 km from its alumina refinery plant at Damanjodi in Orissa's Koraput district.

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Cement capacity, use may double in five years

May 11, 2009: Cement production capacity and its utilisation will be doubled in the next five years, according to Cement Manufacturers Association (CMA) secretary-general N.A. Viswanathan.

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Cement sector on steady growth path, says industry body

May 10, 2009: Despite an economic slowdown and slump in the housing sector, the cement sector continues to be steady with another 50 million tons capacity to be added this year, a top industry official has said.

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NMDC may float JV company with South Africa's Kopano by July

May 10, 2009: NMDC is likely to float a joint venture firm with South Africa's Kopano Ke Matla Investment Company by July to scout minerals like iron ore and manganese in African nation.

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RINL, MOIL to join hands for ferro alloy unit

May 8, 2009: Rashtriya Ispat Nigam Ltd (RINL) and Manganese Ore (India) Ltd (MOIL) have inked a joint venture agreement for setting up a ferro alloy plant at Bobbili Growth Centre in Vizianagarm district of Andhra Pradesh.

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Scrap pileup may be cleared from Nhava Sheva

May 7, 2009: A mountain of scrap metal imported into the country from across the world has been held up for the past one month at Nhava Sheva customs area.

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Monsoons may dilute cement prices

May 7, 2009: Cement prices could fall up to 10 percent in the coming months, pushed lower by new supply and slower construction activity during the monsoon season.

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Brighter future for cement makers

May 6, 2009: If the production and sales figures of cement companies for April are anything to go by, the industry could be emerging from the slowdown.

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Pipavav: Reinforcing its position in operational excellence

May 4, 2009: Port Pipavav has once again demonstrated operational excellence on Nedlloyd Tasman which is operating on Maersk Line's ME1 service.

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LME copper up 2.4% on Asia demand

May 2, 2009: Copper rose in London, adding to its longest monthly winning streak in three years

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Balco may close plant as aluminium prices crash

May 2, 2009: Bharat Aluminium Company (Balco), subsidiary of Sterlite Industries, is planning to close its plant-1

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Sterlite hit by losses in aluminium biz

April 29, 2009: Sharp decline in base metal prices, lesser volumes delivery and higher cost of production in some business segments worked against the Sterlite Industries during March 09 quarter.

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Sterlite to match rival bid for Asarco, to seal deal in 4 mths

April 29, 2009: NRI billionaire Anil Agarwal-led Sterlite Industries will compete with any rival bidder to buyout America's third-largest copper producer Asarco, for which it has already offered $1.7 billion, and said it sees the deal getting sealed in the next 3-4 months.

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Softlink solutions ease logistic hurdles for Wilson Sandhu

April 28, 2009: Wilson Sandhu Logistics (India) Ltd (WSL) is an ISO 9000: 2001-certified international freight forwarding company, which was founded in 1990.

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Smart IT solutions may cut mining costs

April 28, 2009: The IT sector, which had once brought the Indian economy on to a rapid growth path, has come to the aid of the domestic mining sector in tackling the current industrial downturn by offering 'smart solutions' to cut cost.

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Jindal Steel and Power to produce gas in Bolivia

April 26, 2008:India's Jindal Steel and Power expects to start producing gas in Bolivia in June for export to Argentina, company representatives told the Andean nation's president here.

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Binani Cement net down 13.89% in Q4

April 25, 2009: Binani Cement has said it recorded a 13.89 percent drop in net profit for the quarter ended March 31 to Rs 20.07 crore.

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JK Tyre to expand capacity

April 25, 2009: Tyre manufacturer JK Tyre & Industries has said it will invest Rs 270 crore for expanding its production capacity of off-the-road (OTR) tyres by 2011.

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HZL net falls 53.35%

April 23, 2009: Hindustan Zinc has reported a 53.35 percent dip in net profit to Rs 551.47 crore for the fourth quarter ended March 31, 2009.

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UltraTech March quarter better than expected

April 22, 2009: A better-than-expected demand in the domestic cement market helped UltraTech Cement beat street expectations for its March 2009 quarter performance.

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ThyssenKrupp to exit sheet metal segment in India

April 21, 2009: German auto parts maker ThyssenKrupp is exiting the sheet metal business in India by selling its 74 percent in joint venture (JV) ThyssenKrupp JBM (P) to Indian partner JBM Auto for an undisclosed amount.

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Now, suppliers renege on contract

April 21, 2009: If the recession and falling prices put the seller of resources in a bind due to potential defaults by buyers, the reverse is also beginning to take shape as prices of various metals have begun to climb sharply.

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OMC-Vedanta JV company to be incorporated soon

April 20, 2009: The joint venture (JV) Company formed between the state owned Orissa Mining Corporation (OMC) and Sterlite Industries India Ltd (SIIL) for mining of bauxite in the Niyamagiri hills in Kalahandi district will be incorporated as a private limited company soon.

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Nickel up on production cuts, investment buying

April 19, 2009: Price of nickel, which is used in stainless steel, moved up by 16 percent this week against the previous week due to production cuts and investment buying.

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'Steel, cement sectors recovering'

April 19, 2009: The steel and cement sectors are recovering on the back of demand from the small constructions, but price of steel in the coming months is expected to remain stable at the current rates, said S.K. Roongta, Chairman, Steel Authority of India Ltd (SAIL).

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Cement production, exports up

April 18, 2009: The Cement Manufacturers' Association, apex body of cement- makers in India, has released figures for March, triggering significant appreciation of cement stocks.

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Vedanta sets sights on Zambia copper mine

April 17, 2009: Vedanta Resources is leading the race for Zambia's Luanshya Copper Mines (LCM).

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Rubber Board seeks low price fluctuation limit

April 17, 2009: The Rubber Board has asked market regulator Forward Markets Commission (FMC) to reverse the price fluctuation limit to 2 percent to curb volatility in rubber prices in the futures markets.

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Pithampur auto sector seeks govt sops

April 16, 2009: The Pithampur auto industry is seeking incentives from the government to tide over difficult times. During the year, the auto town witnessed a downward trend, with production declining 40 percent.

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Nalco uses discounts to avoid output cut

April 16, 2009: National Aluminium Company (Nalco), India's second largest producer of the base metal, avoided a production cut by offering discounts to its key clients that helped it boost sales and trim rising inventory.

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Builders seek ban on cement exports

April 16, 2009: The Builders' Association of India has called for a total ban on exports of cement, as shortages in the local market were leading to frequent price hikes.

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Adhunik Metaliks to build all-weather port

April 15, 2009: Adhunik Metaliks, part of the Adhunik group, plans to set up an all weather commercial port at Barunei Muhan in Kendarapara district of Orissa. It will be located near Jambu, 30 km north of Gahirmatha.

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Metal companies may face hurdles ahead

April 15, 2009: With the troubled global economy driving down prices, metal companies are not expected to do well in the March 2009 quarter but they can take heart from the fact that sales volumes do not indicate any deterioration in fundamentals.

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More action on Asarco front

April 15, 2009: The fight to take over US-based copper mining company Asarco, which had appeared to be settled in favour of Anil Agarwal-controlled Sterlite Industries, could start all over again.

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Builders allege cartelisation by cement producers

April 15, 2009: The tug of war between cement manufacturers and construction groups has reached a flash point, with construction players seeking fresh government interference in alleged cement cartelisation move and high cement prices.

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JK Lakshmi starts production at Gujarat unit

April 14, 2009: JK Lakshmi Cement Ltd has commenced commercial production of its plant located at Motibhoyan near Ahmedabad.

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Rubber price above Rs 100/kg

April 14, 2009: With the auto industry showing signs of recovery, the demand for rubber by tyre companies has increased.

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Copper may rise on Chinese demand

April 12, 2009: Firm Chinese demand may push up copper prices in the coming week as the procurement agency in that country may take advantage of the current low prices to build the metal's stockpile needed for the 4-trillion-yuan ($585 billion) stimulus programme.

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Nalco's aluminium exports down 20 pc in FY'09

April 11, 2009: Nalco, the country's second largest aluminium producer, reported a 20 percent decline in the export of the metal in 2008-09 amid slackening demand in the wake of the industrial downturn.

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Cement despatches grows 9.98% in April

April 11, 2009: Cement despatches in India recorded a growth of 9.98 percent at 18.06 million tons (mt) during March, compared to the 16.42 mt reported during the corresponding month of last year.

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JK Lakshmi starts production at Ahmedabad plant

April 11, 2009: With a view to strengthening its footprints in Gujarat, JK Lakshmi Cement Ltd, one of the leading cement manufacturers in the country, commenced commercial production of its plant located at Motibhoyan near Ahmedabad.

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Commodities may have already reached bottom: Credit Suisse

April 11, 2009: Commodity prices, after slumping the most in at least a half century, have probably reached the bottom and should rebound over the next several years as demand outpaces supply, Credit Suisse said.

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Cement industry growth rate hits 5-year lows

April 10, 2009: The growth rate of the domestic cement industry has hit a five-year low, in terms of both production and despatches, in FY09. The industry registered a growth of 7.75 percent and 7.91 percent in production and despatches respectively.

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Nelp-VIII offers all-time high 70 blocks

April 10, 2009: Amid concerns of the economic slowdown, the government has launched the eighth round of New Exploration Licensing Policy (Nelp-VIII) offering 70 blocks, the highest so far.

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Exclusive: Demand rises for Indian high carbon ferro chrome in China

April 9, 2009: Domestic Indian companies are flooded with enquiries for high carbon ferro chrome from the Chinese market for the past 10 days.

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Slow demand may force Holcim to shut down plants

April 9, 2009: Holcim - the Swiss promoter of the country's two major cement makers, ACC and Ambuja Cements - has said it may shut down plants in case of poor demand.

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ACC to put Rs 29 billion into capacity expansion

April 9, 2009: ACC Ltd, India's largest cement maker, will spend Rs 29 billion ($575 million) on capacity expansion in 2009 and 2010, according to chairman N.S. Sekhsaria.

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Cement prices may stabilise soon

April 9, 2009: The addition of new production capacities are expected to stabilise cement prices in the middle of this year, according to ACC deputy chairman Paul Hugentobler.

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Exclusive: Slide in noble ferro alloy prices

April 8, 2009: Noble ferro alloy prices dipped substantially as manufacturers sought to sell off their inventory quickly.

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Rio Tinto Alcan cuts alumina, bauxite output

April 8, 2009: The drop in alumina and aluminium demand and prices in recent months has led Rio Tinto Alcan to slow down expansion at the Yarwun alumina refinery in Gladstone. It will now be completed in the second half of 2012.

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Exclusive: No breakeven prices for ferro alloy producers

April 7, 2009: Low demand for ferro alloys and a high rate of input materials is preventing ferro alloy manufacturers from selling their produce at breakeven prices.

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Exclusive: Manganese ore import deal with S African firm

April 6, 2009: Deals for manganese ore imports have been signed this month with a South African party at $3.5 per manganese content.

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Cement firms say govt responsible for price rise

April 6, 2009: Cement manufacturers have put the onus to rein in cement prices on the government.

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IOC launches Paradip-Haldia pipeline at higher cost

April 5, 2009: Mr Sarthak Behuria, Chairman of IndianOil, on Saturday inaugurated the Paradip-Haldia crude oil pipeline system at Paradip.

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Ambuja Cements' two grinding projects cost may rise by 10pc

April 5, 2009: Ambuja Cements, which is setting up two grinding units at Bhatapara in Chattisgarh and Rauri in Himachal Pradesh, said the project cost would shoot up by 10 per cent from earlier estimates of Rs 1,600 crore due to increased commodity prices.

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BHEL's Vellore plant turnover rises to Rs 2,000 cr

April 5, 2009: Power equipment maker BHEL on Sunday said its boiler auxiliaries plant here had achieved an all time high turnover of Rs 2,000 crore in 2008-09.

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Ferro alloys producers raise capacity utilisation

April 4, 2009: Indian ferro alloys producers have raised their capacity utilisation in a major way since the second fortnight of February on a revival in demand for steel, which started in the fourth quarter of the last financial year.



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GAIL, GSPC keen on building KG basin gas pipeline

April 4, 2009: State-owned Gail India and Gujarat State Petronet Corporation (GSPC) have submitted proposals to build a 1,400 to 1,500 kilometre pipeline connecting the Krishna Godavari basin in the eastern coast to central India.

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JCB to make India its global manufacturing base

April 4, 2009: World's third largest earthmoving and heavy machinery maker JCB, plans to make India its largest global manufacturing hub to meet its worldwide export commitments, a top company executive said.

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Cement cos told to cut prices

April 4, 2009: The government has warned cement manufacturers that it will not extend any stimulus package to the industry unless they reduce the price of the building material.

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Cement prices go up by Rs 7 per bag

April 2, 2009: Buoyed by improved demand, cement makers have raised prices by Rs 3 to Rs 7 7 per 50-kg bag across the country from April 1.

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Cairn confident of commencing oil production in Q3 2009

April 1, 2009: Cairn Energy Plc, the UK based parent of Cairn India, reiterated its commitment to commence the commercial production of crude oil from its Rajasthan fields from September 2009, when it published its results for year 2008 on March 31, 2009.

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More downslide for Chinese ferro chrome import prices

March 31, 2009: China's ferro chrome import prices have fallen another cent per pound in the week beginning on March 23.

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ACC seeks cement price of Rs 300 per bag

March 30, 2009: ACC Ltd has said cement should be sold at Rs 300 per bag in the retail market if it needs to progress with its expansion plans for 2010.

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Copper may surge on positive US data

March 29, 2009: Copper may advance early in the week beginning on March 30, 2009 on the positive US economic data, which, many feel, would improve global demand for the metal used by the housing and automobile sectors.

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Zinc up 6.7% on Chinese buying

March 29, 2009: Zinc moved up by 6.7 percent in the week ended March 28, 2009 compared to previous week following a significant jump in Chinese buying. Zinc along with other metals was also supported by the positive data from the US on new home sales and consumer confidence.

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Aluminium prices may soften in short term

March 28, 2009: Aluminium prices may soften a tad in the short-term as most companies in China, which were shut after production costs rose above sales realisation, may resume operations soon, according to analysts with broking houses.

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PSU oil cos to fuel growth with Rs 57,000-crore spend

March 27, 2009: Public sector oil companies have prepared a mega plan to help re-fuel a sputtering economy without any burden on the exchequer by spending Rs 57,000 crore next year on expanding supplies and building new transportation networks for oil and gas, a government official here said.

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ACC says govt support can bail out industry

March 27, 2009: Cement maker ACC, which has seen a decline in exports for the first time in seven years, expects only state-led consumption to benefit cement firms in an era of high costs and soft demand.

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Ferro alloy exports to fall 25 per cent

March 27, 2009: The production and exports of ferro alloys, the major ingredients of raw materials for steel making, are likely to decline by 25 percent this year on poor demand from global consumer industries, according to experts.

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Nalco seeks safeguard duty on aluminium

March 27, 2009: The National Aluminium Company (Nalco), India's leading aluminium producer, is in discussion with the government to have at least a 10 percent safeguard duty on import of primary aluminium.

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Cement industry's Q4 may be the best in FY09

March 27, 2009: The over Rs 85,000-crore domestic cement industry is set to see some relief in the March quarter.

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Orissa mineral plan set to be drafted by April

March 25, 2009: Society of Geoscientists & Allied Technologists (SGAT), a professional body dedicated to promotion of mineral development activities in the country, will submit the vision mineral development plan 2020 for Orissa in April this year.

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Centre imposes safeguard duty on aluminium items

March 25, 2009: The Central Board of Excise & Customs has imposed a safeguard duty of 21 percent on aluminium flat-rolled products, 35 percent on aluminium foils and 28 percent on dimethoate technical, a chemical used in manufacturing products like insecticides.

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Shree Cement expands clinker capacity

March 25, 2009: Shree Cement has commissioned an additional 1 million tons (mt) of clinker capacity.

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Highway builders seek ban on cement exports

March 24, 2009: The National Highway Builders Federation (NHBF), a lobby body of highway developers, has alleged that cement manufacturers have been consistently increasing prices in the past few months instead of passing on duty cuts to customers.

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Only state-led consumption to benefit cement firms

March 24, 2009: ACC, which has seen a decline in exports for the first time in seven years, expects only state-led consumption to benefit cement firms in an era of high costs and soft demand.

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ACC ready-mix concrete expansion on hold

March 24, 2009: ACC has decided to put on hold plans to expand its ready-mix concrete (RMC) business due to a slowdown in construction activity.

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Vedanta to hike stake in Malco

March 24, 2009: Vedanta Resources Plc plans to pay $34 million to boost its stake in Madras Aluminium Company Ltd (Malco) to 93 percent from 80 percent, after an offer to minorities shareholders.

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Netherlands bank, Srei tie up for $100-million ECB

March 23, 2009: Srei Infrastructure Finance Ltd and the Netherlands-based bilateral private sector development bank FMO have signed a letter of intent for external commercial borrowing (ECB) of $100 million.

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Power, fuel constraints hit cement production

March 21, 2009: Power supply and problems of coal availability have hit cement production capacities and supply, which has helped to keep prices stable. According to manufacturers, though installed capacity has increased, consumption has matched the growth, contrary to expectations.

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Metal traders see a silver lining in sliding rupee

March 21, 2009: Rising inventories and lacklustre demand have set the bearish tone for base metals such as copper. However, despite base metals trading down on the London Metal Exchange (LME), depreciation of the rupee has actually played in favour of the metals on domestic bourses such as MCX.

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New capacity may dampen cement prices in south

March 20, 2009: Cement prices in the south may come under pressure, with 12.3 million tons (mt) of additional capacity scheduled to go on stream by 2009-end.

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Binani Cement may list on LSE

March 20, 2009: Binani Cement is considering getting listed on the London Stock Exchange to attract international investors.

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Weak aluminium prices help food packaging sector

March 20, 2009: Users of aluminium - such as the food packaging industry, which includes carbonated drinks, foil wrappings and bottle tops - are expected to benefit significantly from a further reduction in their input costs in 2009.

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Dirk India to expand capacity at Nashik

March 18, 2009: Dirk India (DIPL), which specialises in making cement replacement products with fly ash, has invested Rs 45 crore in expanding capacity at its Nashik plant.

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Gujarat's mini cement producers seek lower VAT

March 18, 2009: In the wake of the cement demand being hit by the sluggish real estate sector, mini cement plants owners in Gujarat have demanded relief in value added tax (VAT). Higher VAT on cement is taking a toll on these manufacturers.

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Global zinc mine production declines: ILZSG

March 17, 2009: During January 2009, global zinc mine production declined by nearly 12 percent to about 994,000 tons as compared to the same period a year ago, revealed recent data released by the International Lead and Zinc Study Group (ILZSG).

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Public hearing for Lanjigarh refinery expansion soon

March 17, 2009: The public hearing for the proposed Rs 6,000-crore expansion of Vedanta Aluminium's (VAL) alumina refinery at Lanjigarh will start soon.

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Cement firms may be set 25% fly ash utilisation limit

March 16, 2009: Cement companies which have signed memoranda of understanding (MoU) with the Orissa government for setting up of cement units in the state will be asked to utilise 25 percent of the fly ash generated by them in various forms.

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Iron ore, zinc exports from Peru dip

March 15, 2009: Peru exported 4,30,000 tons iron ore in January, a decrease of 35.8 percent against the same month last year.

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ACC forecasts cement oversupply

March 14, 2009: The domestic cement market will see oversupply in the second half of this year, according to ACC, the country's largest manufacturer of the product.

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Deloitte advises radical cost restructuring

March 14, 2009: With plummeting commodities prices, frozen credit markets and diminishing demand, many metals manufacturers are being forced to take drastic measures in order to survive.

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Economic downturn slows down Central Warehousing

March 13, 2009: Central Warehousing Corporation (CWC) has decided to go slow over its earlier plan to launch three inland container depots (ICDs)/container freight stations (CFSs) at Kannaur, Pipavav and Kochi in the current fiscal.

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Cement companies maintain 8% despatch growth

March 13, 2009: The domestic cement industry has continued to perform well, with demand sustaining at over 8 percent for four successive months since November.

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Vedanta Aluminium expansion may be delayed

March 12, 2009: The Rs 11,500-crore expansion plan of Vedanta Aluminium (VAL) at Jharsuguda in Orissa may be delayed due to environmental issues.

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Asarco deal to open up US market for Sterlite

March 10, 2009: A much lower sales consideration than originally expected, a phased payment schedule and the fact that Sterlite will assume no fresh debt for this buyout make Sterlite's acquisition of Asarco a good deal for the Indian company.

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Nalco to cut power supply to Gridco

March 10, 2009: National Aluminium Company (Nalco) - which regularly supplies surplus power to Grid Corporation of Orissa Ltd (Gridco) from its 960 MW captive power plant (CPP) - has declined to sell power to the state-owned bulk power trader, stating that it has no surplus power.

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Vedanta Resources targets more acquisitions

March 10, 2009: After clinching Asarco's buyout deal at $1.7 billion, NRI billionaire Anil Agarwal-led Vedanta Resources is looking at more acquisitions in mining in view of lower valuations of these assets due to slowdown.

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Dalmia Cement starts Andhra plant

March 9, 2009: Delhi-based Dalmia Cement (Bharat) Ltd has commenced commercial production at its 2.5-million ton (mt) greenfield cement plant at Chinnakomerla village in Kadapa district of Andhra Pradesh.

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Cement firms set to hike prices on rising demand

March 9, 2009: Cement makers will shortly hike prices by Rs 5 per 50 kg bag in a couple of weeks across the country, according to dealers in Mumbai and Gujarat. The move comes on the back of improved demand as well as despatches.

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Sterlite to buy Asarco assets for $1.7 bn

March 8, 2009: Sterlite Industries, a subsidiary of London-listed miner Vedanta Resources Plc, has agreed to acquire the assets of US-based copper mining firm Asarco for $1.7 billion, substantially less than the $2.6 billion that it had bid last year.

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Dalmia Cement scouting for land to set up new units

March 7, 2009: Dalmia Cement (Bharat) Ltd is scouting for land to set up three new cement production units of 2.5 million tons capacity each.

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Cement firms may avoid MP as limestone reserves drop

March 6, 2009: Madhya Pradesh may find it difficult to attract cement companies with limestone reserves on the decline.

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Cement companies do well in south

March 5, 2009: The south is a key market for Ultratech Cement but in a market that saw good growth, the company wasn't able to increase volumes.

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Shree Cement prices went up in February

March 5, 2009: Shree Cements Ltd has raised prices of cement in the past month by Rs 2 to 4 per bag because of rising costs.

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Adani plans cement sector entry

March 4, 2009: Adani Enterprises has plans to foray into the cement sector. It is aiming to set up a 5-million tons per annum (mtpa) cement and clinker unit in Kutch at an estimated investment of Rs 1,800 crore.

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Vedanta unhappy with profit prospects

March 4, 2009: Vedanta Resources sees its profit plunging over 30 percent this fiscal on the back of a slump in demand and falling metal prices.

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Vedanta to restart corporate restructuring

March 4, 2009: Over six months after putting its corporate restructuring plan on hold, Vedanta Resources plans to resume the task, aimed at realigning its structure into three commodity-focused verticals.

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Cement companies hike prices on better demand

March 4, 2009: Improved demand has led cement makers to increase prices by Rs 5 to 8 per 50-kg bag in Mumbai and Gujarat from March 1. This has defeated the government's purpose behind cutting excise duty.

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Vedanta to invest Rs 70,000 crore in India

March 3, 2009: The Vedanta Group has decided to pump Rs 70,000 crore into India by 2011-12, a move expected to make it the world's fifth largest metal and mining entity, rubbing shoulders with the likes of BHP Billiton and Rio Tinto.

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CMIE expects cement demand to rise 7% in 2009-10

March 2, 2009: Cement production is expected to grow 8.1 percent and demand for the same is likely to rise by a healthy 7 to 7.5 percent in 2009-10.

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Surya Roshni to foray into steel, cement sectors

February 27, 2009: Delhi-based Surya Roshni (SRL) is planning an entry into the cement sector and expansion of its steel making business.

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SAIL JV to start cement production by end of the year

February 27, 2009: The joint venture (JV) formed between SAIL's Bhilai Steel Plant (BSP) and Jaypee Cement for a slag cement plant is likely to start production by the end of this year. The JV company is called Bhilai Jaypee Cement Limited and is loacted in Bhilai itself.

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Vedanta lines up Rs 60,000-crore investment till 2013

February 26, 2009: Vedanta Aluminium (VAL) plans to invest a Rs 60,000 crore in the aluminium, alumina and power sectors in Orissa by 2013.

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Arshiya International receives formal approval for its 2nd FTWZ in NCR

February 25, 2009: Arshiya International Ltd has announced that it has received the formal approval from Board of Approval (BOA) of the SEZs for setting up its Free Trade and Warehousing Zone (FTWZ) in Khurja in Uttar Pradesh.

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Excise duty cut to bring down cement prices

February 25, 2009: Cement prices are expected to lose Rs 4 to 5 per 50-kg bag from March 1 on the back of the excise duty cut announced by the government.

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ISP plans 6-fold increase in capacity

By Rajkumar Mitra

February 24, 2009: The IISCO Steel Plant (ISP), a 100 percent subsidiary of Steel Authority of India Ltd (SAIL) till 2006, plans to increase its crude steel manufacturing capacity six times from the present figure of 0.4 million tons to 2.5 million tons.

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Faster goods receipt note generation to help vendors

February 24, 2009: The IISCO Steel Plant (ISP) has shortened its time of issuing a goods receipt note (GRN) from 14 days earlier to about five to six days now.

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ISP using way bill to control suppliers' delivery

February 24, 2009: The IISCO Steel Plant (ISP) is using way bills as an effective tool to regulate inventories.

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ISP looking for quality vendors

February 24, 2009: The IISCO Steel Plant (ISP) is increasingly turning to buyjunction, an arm of mjunction services, for their vendor base needs. Looking to increase their quality vendor base, ISP is using buyjunction as their existing vendor base could not meet all their needs and there was a distinct need for improvement.

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New vendor registration policy under consideration

February 24, 2009: A vendor registered in one SAIL plant may get automatically registered in other SAIL plants, and a corporate guideline to this effect is under consideration.

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Procurement team fights downturn with IT

By Rajkumar Mitra

February 24, 2009: With global meltdown affecting ISP's performance from September 2008, information technology (IT) has turned out to be a key area for the plant to improve its bottomline.

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Fighting the changeover

February 24, 2009: There is a big impending changeover at the Burnpur works of ISP, while they shift from the twin hearth ingot making route to the basic oxygen furnace and continuous casting route (BOF CCS) of steel production.

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Reverse logistics reduces total cost of ownership

By Rajesh Ray

February 24, 2009: Reverse logistics is the process of flow of materials and related information from the point of consumption to the point of origin for re-use, re-sell or simply destroying.

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Zinc falls 11% on LME

By Arnab Mallick

February 24, 2009: Zinc prices remained weak during January, declining more than 11 percent on the London Metal Exchange (LME). As forecast in the last issue of Sourcing Insights, zinc failed to maintain its northward rally from December.

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China Jan imports of refined copper fall 14.7% on month

February 24, 2009: In January China's imports of refined copper have declined by 14.7 percent to 180,490 tons as compared to December when the imports were 211,527 tons revealed the country's recently published customs data.

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China's Aluminum Production

February 23, 2009: Primary Aluminium production in China has declined to 922,000 tons in January from 946,000 tons produced in December, as per a recently published data by the International Aluminum Institute.

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Anrak Aluminium to set up plant in Vizag

February 23, 2009: Andhra Pradesh Industrial Infrastructure Corporation has given land to UAE-based Anrak Aluminium Pvt Ltd for its proposed aluminium refinery and smelter plant in Visakhapatnam.

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Rubber keeps a low profile in January

By Nudrat Alim

February 23, 2009: The correction in prices which was noticed last month has slowly waned. In line with what was estimated in the January issue of Sourcing Insights, prices were reined in the latter half of January and the first week of February. Natural rubber prices in the domestic market have been falling but not indiscriminately.

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Polymer prices continue to rise

By Arusha Das

February 23, 2009: The polymer market sustained its improvement in January as feedstock prices recovered, triggered by the limited supply in the market and depleting inventories. Moreover, rising crude oil and naptha prices supported the rise.

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Nickel dips as inventories shoot up

By Arnab Mallick

February 23, 2009: Like most of the base metals, nickel lost quite a bit this January. Cash official price at the London Metal Exchange declined by around 14.50 percent from $12710 per ton on January 2 to end the month at $10870 per ton.

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Demand slump pulls back Chinese manganese prices

February 22, 2009: A lack of demand had led export prices of China's electrolytic manganese metal (EMM) to drop to around $2,550 per ton fob China.

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Low industrial demand expected in base metals

February 22, 2009: The worsening sentiment in global economies could bring down demand for industrial metals.

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Synthetic rubber prices down

February 22, 2009: The past few months have seen the prices of synthetic rubber falling on account of the drop in crude oil prices. The decline is common to all types of synthetic rubber.

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Low cost operations to sustain HZL

February 21, 2009: Hindustan Zinc expects its low cost operations and strong cash position to help it during the current slump.

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Oil India scraps Digboi project; refining plans on hold

February 20, 2009: As an after-effect of the economic meltdown, Oil India Ltd (OIL) has scrapped its plan to set up a Rs 400-crore pilot coal-to-liquid (CTL) project at Digboi in Assam in a joint venture with Coal India, IndianOil and Engineers India Ltd (EIL).

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HPCL to focus on bio-fuel in a big way

February 20, 2009: Hindustan Petroleum Corporation Ltd (HPCL) is going ahead with its plan for bio-fuels in a big way with ethanol mix and jatropha.

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Nalco may incur maiden losses on slowdown

February 20, 2009: The National Aluminium Company (Nalco) may incur losses for the first time in its history in 2009-10 if the current global economic slowdown continues, said chairman and managing director C.R. Pradhan.

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Lead prices rally on demand from China

By Gargi Sahai

February 19, 2009: LME lead cash official price in the month of January 2009 gained 21.39 percent from the end December price of $949 per ton and stood at $1152 per ton on January 30. The LME 3-month cash official price also gained 24.43 percent from $925 per ton on December 31, 2008 and stood at $1151 per ton on January 31, 2009.

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Month, Money and Market - January

By Chandrika Bose

February 19, 2009: India is all set to become the second-fastest growing economy in the world after China, mainly because the bulk of her investment is led by domestic growth and advance estimates of growth are positive.

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Comfort factor creates monopoly-like situation for project buyers

February 19, 2009: Buyers of high-value projects prefer to place repeat orders to suppliers who have commissioned a full set-up for them successfully, and this comfort factor creates a unique situation in the client's mind, where it finds it difficult to opt for any other product or service.

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Quality and Reliability: Basic Tenets of AMC

By Nudrat Alim

February 19, 2009: Specialised services as well as products procured by a company from a particular service provider are sometimes characterised by such uniqueness that for their future maintenance the companies have to turn back to the same vendors. The signing of a yearly agreement between the vendor and the client for this purpose is called the annual maintenance contract (AMC).

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Toshali Cement seeks mining lease renewal for expansion

February 19, 2009: The proposed Rs 140-crore capacity expansion of the Toshali Cement plant at Ampavali in Koraput district remains uncertain.

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Cement prices slip Rs 3/bag in 10 months

February 19, 2009: The average domestic price of cement has decreased to Rs 234 per bag in January, from Rs 237 per bag in April last year.

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Lack of competition drives price dynamics

February 18, 2009: Furnace oil buyers in the eastern region are losing out big time as they are not getting any discounts from furnace oil producers, unlike their counterparts in other parts of the country.

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Buyers' Mechanisms To Combat Vendor Monopoly

By Neha Prasad

February 18, 2009: Monopoly seems an obsolete word in today's competitive world but it is not as uncommon as we would believe. Such scenarios exist - on large and small scales - because they benefit a few. However, as a monopoly negates the very principle of free markets, it is inherently destructive to the dynamics of trade.

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Sterlite to buy Asarco at half the offer price

February 18, 2009: Sterlite Industries will buy US copper miner Asarco at nearly half the earlier agreed price of $2.6 billion, after discounting 'goodwill' and liabilities, due to the economic meltdown and fall in commodity prices.

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Metals production in India, Apr-Jan period

February 18, 2009: India's state run as well as private companies have together produced about 1.10 million tons of aluminium during April 2008 to January 2009, as compared to the 1.02 million tons of aluminium produced during the same period in the previous year, revealed recent data published by the country's ministry of mines.

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Copper price fall hits Aditya Birla group in Australia

February 18, 2009: The Aditya Birla group will now face an A$112 million outgo in Australia, due to forward sales in copper.

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Copper may continue to move in range-bound manner

February 17, 2009: Copper has moved in a range-bound manner in January, with alternate price spikes followed by profit booking that pulled down the price. It touched a month high of $3390.5 per ton during the month and the lowest price was 3050.5 per ton.

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Caustic soda prices remain well supported across regions

February 17, 2009: Increasing arbitrage opportunity from the US supported the caustic soda market in Asia and in the Mumbai chemical market the price of caustic soda lye for end January 2009, stood at Rs 32,500 per ton. This was an increase of 16.07 percent from the end December 2008 price of Rs 28,000 per ton.

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Crude rises in January after 5-month dry spell

February 17, 2009: The domestic crude oil basket rose to $43.99 a barrel in January 2009, from $40.61 a barrel in December 2008. This may indicate a U-turn from a scenario where it had bottomed out.

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Benzene prices stabilise

February 17, 2009: Benzene lost around 3.23 percent in January 2009 in the Mumbai chemical market and stood at Rs 30 plus VAT per litre in end January, a marginal drop from the end December 2008 price of Rs 31 plus VAT per litre.

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Ammonia shows signs of recovery

February 17, 2009: Ammonia markets started showing signs of recovery from the second week of January from its unhealthy state with positive indications both on the demand and supply side.

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Weak fundamentals, profit booking pull down aluminium

February 17, 2009: Aluminium has lost quite a bit during January on the back of weak fundamentals, profit booking, sharply lower crude oil prices, a strengthening dollar and rising inventories.

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Rising demand may lift cement prices in February

February 17, 2009: Cement prices, which had fallen sharply in December due to higher production and low demand, remained largely stable in January despite higher production, as low prices pushed up demand.

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Turkish chrome ore producer to hike capacity

February 17, 2009: Turkish minerals producer Zirve Krom Madencilik plans to build a new plant to raise production of ore concentrate and expand chrome ore capacity.

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Japan GDP drop pulls down copper

February 17, 2009: The lack of demand and growing inventories in Japan have pushed copper to its lowest in more than a week on February 16.

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ILZSG reports a surplus in global zinc market for 2008

February 17, 2009: The world's refined zinc market was in a surplus of 195,000 tons in the 2008 revealed data recently released by the International Lead and Zinc Study Group (ILZSG).

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Norilsk Nickel suspends production at Australian mines

February 17, 2009: Norilsk Nickel of Russia has decided to temporarily shut down its Black Swan and Lake Johnston nickel operations in Western Australia, its last two active mines in that country.

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GAIL decision on overseas petrochem project in 6 months

February 16, 2009: GAIL Ltd will take another six months to decide on its proposed investment of Rs 10,000 crore for setting up overseas petrochemical projects, said chairman and managing director, GAIL, U.D. Choubey.

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Hindalco projects face fund blues

February 16, 2009: The global credit crisis may cast a shadow over the greenfield projects of Hindalco Industries, the flagship company of the Aditya Birla group, as the aluminium maker is yet to conclude its debt-raising programme.

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Passing of US stimulus package lifts oil, copper

February 15, 2009: The passing in the US House of Representatives of a critical economic stimulus package brought some confidence to commodity markets on February 13, 2009, helping oil rise an unexpected 10 percent and copper snap three days of losses in New York.

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China makes $20-billion move to ensure supply of essential minerals

February 14, 2009: China has made a strategic $20-billion investment that will enable it to take advantage of the downturn in commodity prices and stock up on essential minerals.

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New IPPs in Orissa to generate 5 mt more fly ash

February 13, 2009: Orissa is expected to gain through generation of an additional 5 million tons per annum (mtpa) of fly ash by thermal power plants once independent power producers (IPPs), who have signed memoranda of understanding with the Orissa government, commission their projects.

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Alcoa, Chinalco plan strategic ties

February 12, 2009: Chinalco and Alcoa have declared their intention to expand their relationship in order to help both companies build up the bauxite, alumina and aluminum segments, according to a media report.

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Maharashtra to get more UltraTech Building retail outlets

February 12, 2009: UltraTech Cement has said it would open four more outlets of its construction materials retail chain, UltraTech Building Solutions (UBS), in Maharashtra.

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Xstrata Nickel plans changes at Sudbury

February 9, 2009: Xstrata Nickel has decided to restructure its Sudbury operations to match the current market conditions.

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High coal prices dent cement firms' realisations

February 8, 2009: Cement companies continued to reel under the high cost of production besides drastic fall in demand due to delay in execution of infrastructure and housing projects on the back of liquidity crisis in the third quarter of the financial year.

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Cement makers set to raise price on better demand

February 9, 2009: Cement makers are expected to increase prices by Rs 5 per 50 kg bag in a couple of weeks on the back of improved demand and despatches.

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High input costs pull down ACC profit 23% to Rs 1,099 cr

February 7, 2009: Hit by high input prices and a slowing economy, the country's largest cement maker ACC has suffered a 23 percent drop in consolidated net profit to Rs 1,099 crore for the year-ended December 2008 from Rs 1,427 crore in the same period previous year.

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Sterlite set to take over Asarco

February 6, 2009: Sterlite Industries, the country's largest copper producer, is close to signing a contract to buy Asarco llc.

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Ashapura Minechem plans JV for Maharashtra project

February 5, 2009: Ashapura Minechem - a diversified mineral group with interests in bauxite and bentonite mining and exports - is planning to rope in a partner for its Rs 4,200-crore mega alumina project in Maharashtra.

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US auto sales drop to 27-year low

February 4, 2009: The US automobiles market has fallen below the Chinese market for the first time with a 27-year low.

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Maharashtra, Ashapura group ink MoU for alumina unit

February 4, 2009: The Maharashtra government has signed five memoranda of understanding (MoUs) worth Rs 6,120 crore to attract investment in sectors like mining, steel, iron, textiles and alumina.

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Demand for cement strong in January

February 4, 2009: The three major cement producers - ACC, Ambuja Cement and Aditya Birla Group - registered a leap in dispatches as demand stayed up in January.

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Fitch report predicts cement industry consolidation

February 4, 2009: Consolidation appears to be the byword for the domestic cement industry at present.

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GHCL plans Rs 1,300-crore turnover for 2008-09

February 2, 2009: Soda ash player GHCL is targeting a growth rate of 25 to 30 percent for the financial year ending March 31, 2009.

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Net profit falls for Grasim Industries

February 1, 2009 : Grasim Industries has posted a drop of 36.26 percent in consolidated net profit for the quarter ended December 2008 to Rs 459.55 crore, compared to Rs 720.99 crore in the corresponding previous quarter.

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Lesser demand may pull down base metals

February 1, 2009 : Base metals are likely to remain under pressure this week as the global economic slowdown cuts demand, resulting in a huge buildup of inventories in the benchmark London Metal Exchange-registered warehouses.

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Lanco Infratech plans 2,000 MW more power projects

February 1, 2009 : Lanco Infratech has plans to commission 2,000 MW of power projects in 2009.

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Hindalco Q3 net at Rs 545 crore

February 1, 2009 : Hindalco Industries has posted a alight rise in net profit, at Rs 545 crore, in the third quarter of the financial year ended December 31, against Rs 543 crore in the corresponding year ago period.

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Concrete technology may soon go green

February 1, 2009 : Concrete technology needs to be made environment-friendly.

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Ready-mix concrete business boosts L&T profit

January 31, 2009 : Larsen & Toubro has reported a 216 percent rise in net profit at Rs 1,520 crore for the third quarter of financial year ended December 2008 on the back of an extraordinary income of Rs 916 crore from sales of its ready-mix concrete business.

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France may reprocess uranium for India

January 31, 2009 : France has said it is willing to take back uranium for reprocessing if India is not in a position to reprocess the entire amount.

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Cement imports from Pakistan may stop

January 30, 2009: Domestic cement dealers and companies may freeze cement imports from Pakistan.

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Indian CPC buyers depending heavily on China

By Nudrat Alim

January 27, 2009: Production of calcined petroleum coke (CPC), used largely by the aluminium industry, is extremely limited in India, which is the reason why the Indian consumers have to depend heavily on imports.

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Refractory, steel companies in a fix over payment terms

By Rajkumar Mitra & Arusha Das

January 27, 2009: The recession scenario has presented a tricky situation for both refractory manufacturers as well as steel companies in terms of both uniform quality as well as mode of payment.

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Month, Money and Market: January 2009

By Chandrika Bose

January 27, 2009: The present crisis facing the world has made the economic outlook extremely uncertain and overall growth may hover around just 2 percent in 2009.

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Petronet to sign gas supply deal with Gorgan in Feb

January 26, 2009: Petronet LNG Ltd (PLL) will sign a gas supply contract with Australian consortium Gorgan Projects in February for supply of LNG to its 2.5-million-tons-a-year terminal in Kochi to be commissioned by March 2012.

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South builds cement cos' fortunes

January 26, 2009: In a repeat of the trend witnessed during the September quarter, cement players experienced contrasting fortunes in the quarter ended December 31, 2008.

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Oil prices ease in Asia

January 26, 2009: Oil prices eased in Asian trade on January 25, following a report that the International Monetary Fund (IMF) will further lower its world economic growth forecast.

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Lower fuel cost, higher sales boost cement profit

January 25, 2009: The domestic cement industry, which performed dismally during the July-September quarter (Q2), is set to post better profits for the October-December quarter (Q3) on account of higher sales volume, lower fuel and packaging cost.

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Chennai Petro reports record 1269 cr loss in Q3

January 25, 2009: Chennai Petroleum Corporation, a group company of Indian Oil, has reported a record loss of Rs 1269 crore in the third quarter ending December 31, 2009 against a net profit of Rs 225.62 crore in the same period last year.

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Copper market in surplus, but prices hold well

January 25, 2009: What started as slowdown in western countries soon turned into recession, impacting prices of a wide range of commodities including base metals.

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Govt may soon give way to 3-yr drilling holiday

January 24, 2009: Faced with a global shortage of offshore drilling rigs, the Government may this month decide on giving a three-year drilling holiday or moratorium to firms such as state-owned Oil and Natural Gas Corp and Reliance Industries.

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Oil, gas production dips in Dec

January 24, 2009: The indigenous crude oil and gas production saw a marginal dip in December 2008.

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OVL's Cuban deepwater block yields two oil & gas leads

January 24, 2009: ONGC Videsh (OVL), the foreign investment arm of Oil & Natural Gas Corp (ONGC), has found two significant hydrocarbon (oil and gas) leads in a Cuban deepwater exploration block where it has a 30 percent stake.

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Nalco to start work on Orissa aluminium project

January 23, 2009: National Aluminium Co (Nalco) is gearing up to start preliminary work on its second aluminium project, a Rs 16,000-crore greenfield venture for a smelter-cum-power plant, in Orissa.

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Govt to gain Rs 16,000 cr on higher gas price: RIL

January 23, 2009: Mukesh Ambani-led Reliance Industries said in the Bombay High Court that a higher price of $4.20 dollar per million British thermal unit (MmBtu) for gas from the KG basin, as decided by the Empowered Group of Ministers (EgoM), would lead to a gain of Rs 16,000 crore for the government.

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Payment takes the long route for copper, zinc, lead traders

By Neha Prasad

January 22, 2009: Fiscal transactions have always been the crux of import-export trade mechanisms; thus ease or discomfort in payment has a considerable effect on smoothening the path of trade or posing hurdles.

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Performance bank guarantee clause in payment terms

By Rajkumar Mitra

January 22, 2009: Bogged down by delivery and quality related problems, companies are thinking of new ways to ensure that their interests are not hampered in any procurement process. One of the ways is to introduce various clauses in the payment terms.

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ERP facilitating timely payments

By Rajkumar Mitra

January 22, 2009: While in most cases, the Enterprise Resource Planning (ERP) software helps to coordinate and manage all data, in some cases ERP at the vendor's end may hold back generation of delivery orders. That happens in case of defaulting buyers who have not made payments on time to the vendors.

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Pushing business ahead

January 22, 2009: Payment terms mentioned in the purchase order have a direct relation to the price of items being bought. If the payment terms offered by a vendor are renegotiated by the buyer and a higher number of days of credit are sought, the offer price for the item increases automatically.

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DSP turns to ancillary units for effective delivery

January 22, 2009: With an eye on solving delivery-related problems, Durgapur Steel Plant (DSP) of Steel Authority of India Ltd (SAIL) is turning to local ancillary units for faster and reliable supply of services and spares items.

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ASP acts as link in supply of critical items

By Rajkumar Mitra

January 22, 2009: The Steel Authority of India Ltd (SAIL) has insulated one of its critical units, the Alloy Steels Plant (ASP), from market risks by not exposing the plant to the open market.

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DSP: A steel making behemoth

January 22, 2009: The Durgapur Steel Plant (DSP) in West Bengal, operated by the Steel Authority of India Limited (SAIL) currently produces 2.2 million tons (mt) of hot metal.

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DSP works proactively to cut input costs

By Rajkumar Mitra

January 22, 2009: Durgapur Steel Plant's (DSP) material management team of SAIL has been proactively working to mitigate the effects of the economic downturn and is achieving results even before being asked to do so by the top management.

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Procuring services a huge challenge for professionals

By Rajesh Ray

January 22, 2009: These are difficult times and sourcing executives of companies are identifying innovative ways to optimise every dollar being spent on behalf of their organisations. Indirect service categories typically represent half a company's indirect spend.

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Three-pronged procurement approach to tackle slowdown

By Neha Prasad

January 22, 2009: Procurement is in the spotlight as officials are rolling up their sleeves to take on the international downturn.

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Cement prices fall in Dec on high output, low demand

By Rakesh Dubey

January 22, 2009: Cement prices across the country fell between 15 to 18 percent in December due to higher production and despatches in the previous month.

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Zinc prices fluctuate

By Arnab Mallick & Sarbani Haldar

January 22, 2009: Zinc moved in tandem with most of the base metals during the month. Initially, the official cash price declined considerably on back of poor market conditions.

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Ferrous scrap prices rise on low generation

By Nudrat Alim

January 22, 2009: In times such as these, when demand for finished steel products is low, prices of ferrous scrap which is one of the significant raw materials in most developed nations, has been witnessing an upward trend. The reason has been the lack of availability.

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Rubber growers tread with caution as prices fluctuate

By Nudrat Alim

January 22, 2009: Rubber growers are following the wait and watch policy after the way prices moved in the last one month. The month of December witnessed prices of natural rubber slipping till the second week and then picking up pace, and the same trend has been on since then.

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Polymer prices uptrend continues

By Arusha Das

January 22, 2009: The polymer market witnessed some improvement in December 2008 as prices sustained its upward recovery. This was partly supported by rising crude oil and naphtha prices and partly by the limited supply in the market and depleting inventories.

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Nickel recovers amid speculative buying

By Sarbani Haldar & Arnab Mallick

January 22, 2009: Nickel ended the year on a better note. After prices declined for the last several months, nickel finally closed the year with a monthly gain.

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Sharp correction in lead prices unlikely

By Gargi Sahai

January 22, 2009: The LME lead cash official prices saw a mixed trend in December 2008.

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Iron ore prices slip as China finally stops buying

By Nudrat Alim

January 22, 2009: Iron ore prices have not been stable for long, but that has not come as a surprise. The very fact that Chinese mills continued to buy despite prices moving up constantly, was an indication that buying would stop soon enough. In fact in the last week of December, spot offers in China witnessed a decline of almost 9 percent.

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Copper recovers sharply after initial slump

By Arnab Mallick

January 22, 2009: Copper has been seeing a bit of action since December. During most of the month, copper declined at the London Metal Exchange (LME) primarily on the back of weak market sentiment, strengthening dollar during first two weeks of December and speculation around auto bail out decision.

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Caustic soda begins to stabilise in Asia

By Gargi Sahai

January 22, 2009: In the Mumbai chemical market, the caustic soda lye and flakes prices showed signs of stability when the lye prices remained at Rs 28,000 per ton on December 27, 2008 and the flakes prices remained at Rs 27,500 per ton, unchanged from the prices on November 29.

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Benzene suffers a huge crash

By Gargi Sahai

January 22, 2009: In the Mumbai chemical market, benzene lost a huge 39.22 percent in December 2008, falling from a level of Rs 51 plus VAT per litre on November 11, 2008 to Rs 31 plus VAT per litre on December 30, 2008.

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Ammonia slump may continue in Jan

By Chandrika Bose

January 22, 2009: Ammonia markets went through a slump period towards the end of 2008 when Yuhzny did not report any prices due to lack of trade owing to low demand for ammonia resulting from global recession.

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Aluminium prices unlikely to look up soon

By Arnab Mallick

January 22, 2009: Aluminium moved in a range bound manner in December at the London Metal Exchange (LME). The cash official price primarily moved within $1420 to $1545 per ton in December thereby averaging $1490 against our forecast of $1410 to $1430 per ton.

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Crude may pull down fuel price further

By Rajkumar Mitra

January 22, 2009: The domestic crude oil basket has taken a beating of 20 percent on a month-on-month basis and fallen from $50.91 a barrel in November to $40.61 a barrel in December 2008.

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Can makers against BIS stamp for imported tin plates

January 20, 2009: The mandatory Bureau of Indian Standards (BIS) certification on imported tin plates has been opposed by tin can makers.

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Xstrata-Merafe Chrome Venture announces further ferro chrome production cuts

January 19, 2009: The Xstrata-Merafe Chrome Venture announced temporary suspension of 11 ferrochrome furnaces on December 1, 2008, according to a company announcement.

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Anglesey Aluminium to shut down smelter

January 19, 2009: Anglesey Aluminium Metal - jointly owned by Rio Tinto Alcan (51 percent) and Kaiser Aluminum (49 percent) - expects it will finish smelting operations by the end of September 2009, when its current power contract expires.

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Base metals may steady on China , US stimulus

January 18, 2009 : Base metals are expected to increase next week on the back of stimulus packages announced by China and the US - the world's two largest base metal consumers. They may revive demand for metallurgical commodities.

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ADAG may put a hold on steel, shipping projects

January 17, 2009: The international slowdown has prompted the Anil Dhirubhai Ambani Group (ADAG) to rethink its new ventures in shipping and steel sectors, even as its plans for cement business are yet to take off from the blueprint stage.

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Nalco to maintain output till March

January 17, 2009: National Aluminium Co (Nalco) will maintain its target for aluminum production for the year ending March 2009 due to steady domestic demand.

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L&T may form joint venture with NPCIL

January 17, 2009: Larsen & Toubro and Nuclear Power Corporation of India are at an advanced stage of talks for setting up a joint venture for producing forging materials.

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L&T, Westinghouse tie up to make nuclear power reactors

January 17, 2009: Larsen & Toubro (L&T) has inked a memorandum of understanding with US-based nuclear power firm Westinghouse Electric Company (WEC) to manufacture modular nuclear power reactors.

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Cement cos upbeat on lower Pakistan imports

January 15, 2009: Countervailing duty on cement imports has put a near stop to imports from Pakistan, much to the relief of domestic cement companies.

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Mahindra Forgings' UK arm shuts down unit

January 14, 2009: Stokes Group, Mahindra Forgings' UK subsidiary, has announced its decision to close its Walsall plant in West Midlands due to falling demand.

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OZ Minerals to close down Scuddles mine

January 13, 2009: OZ Minerals has announced that it would be putting Scuddles mine at its Golden Grove operations in Western Australia on care and maintenance.

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Work on at Utkal Alumina's Orissa project

January 13, 2009: Work has restarted at the Rs 4,000-crore Utkal Alumina International Ltd (UAIL) project at Kashipur, in Orissa's Rayagada district. It had stopped for about 20 days due to an agitation over land issues.

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Lafarge sees larger pie from India

January 10, 2008: Lafarge has said that the contribution of emerging markets to its bottomline from countries such India may be bigger in two years than previously estimated.

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Aditya Birla shuts Australian copper mine

January 8, 2009: Aditya Birla Minerals Ltd has informed that it was putting its Mt Gordon copper mine in Queensland, Australia on care and maintenance owing to the low prices of copper.

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China Jinchuan To raise nickel, copper, cobalt production in 2009

January 7, 2009: Chinese company Jinchuan Group has plans of increasing production of nickel, copper and cobalt in 2009 informed the company.

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GMDC calls for global bids to value Ambaji assets

January 7, 2009: Gujarat Mineral Development Corporation (GMDC) has invited international bids for the valuation of its mining assets and mineral ore reserves at Ambaji.

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APGenco, NPCIL to ink nuclear power pact

January 7, 2009: APGenco will soon enter a joint venture agreement with Nuclear Power Corporation of India (NPCIL) to set up a 2,000-MW nuclear power generation unit in Andhra Pradesh.

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Cement industry seeks more sops from govt

January 4, 2009: The cement sector has expressed its wish for a better deal from the Centre, though it welcomed the second stimulus package.

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Ambuja Cements shipments up

January 4, 2009: Ambuja Cements announced that its shipments in December 2008 had increased 11.8 percent to 16.62 million tons (mt), from 14.86 mt a year earlier.

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Miners seek zero export duty on chrome

January 4, 2009: Domestic miners want the government to remove the export duty on chrome and its concentrate, used in processing of steel products.

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Vedanta set to complete Orissa projects

January 4, 2009: Vedanta Resources has declared its intention to complete all its projects in Orissa despite the credit crunch.

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New norms to help prevent defaults in cement industry

January 1, 2009: The Cement Stockists & Dealers Association will form guidelines to regulate the business and the safety of cement dealers' capital.

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Real estate may help revive cement sector

December 31, 2008: The cement industry - which had started the year with soaring demand - has been badly hurt by the slump in the real estate segment.

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Sterlite may face competition in Asarco bid

December 30, 2008: There may be fresh bidding after Sterlite's revised offer for Asarco as the valuation of the bankrupt US copper miner has dropped in line with the commodity prices.

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World aluminium stocks down

December 30, 2008: Total world aluminium inventory has declined in November to 2.928 million tons (mt), as compared to 2.961 mt of aluminium inventory in October revealed the recent data published by the International Aluminium Institute (IAI).

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RSB Group plans aluminium unit in Orissa

December 30, 2008: RSB group subsidiary RSB Metaltech has reportedly signed a memorandum of understanding with the Orissa government for a Rs 6,800 crore integrated light metal aluminium complex.

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Sumatra plant to cost Nalco 25% more

December 30, 2008: National Aluminium Co (Nalco) has estimated a 25 percent increase in the cost of an aluminum smelter in Sumatra.

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Binani Group to invest Rs 1,300 crore in cement, zinc

December 30, 2008: The Binani Group has decided to put Rs 1,000 crore into the 'Vibrant Gujarat' meet on January 12.

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JK Lakshmi Cement to set up new cement plant at Durg

by Rakesh Dubey

December 29, 2008: JK Lakshmi Cement Ltd, the cement manufacturing arm of the multi-faceted J K Group, expects that the company's fourth grinding unit at Kalol will be in operation by January 2009 and that will help it increase cement making capacity to about 5 million tons per annum (mtpa) from the current level of 3.8 mtpa, a senior official of the company told Coal Insights.

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Vedanta to start West Bengal aluminium project

December 29, 2008: The Vedanta Group will commence work on its Rs 12,000-crore aluminium project in Bidhanbag (Asansol).

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ACC may shut down more plants

December 29, 2008: The continuing slump in demand may force ACC to shut down more plants, after it kept its Himachal Pradesh unit temporarily idle this month.

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Cement firms may miss expansion target by 25%

December 28, 2008: The domestic cement industry may not keep its promise of adding 32 million tons (mt) as new capacity in FY09 and end up adding over 25 percent less capacity to a maximum of 25 mt.

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Cement prices to soften further in January

December 27, 2008: Cement prices are expected to soften by about Rs 7 to Rs 12 per bag in the first week of January, due to a slowdown in the housing sector and cheap imports of cement from Pakistan.

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Vedanta to start work on its aluminium project in Bengal

December 27, 2008: The Vedanta Group has decided to start work on its Rs 12,000-crore aluminium project in West Bengal, one of the first major investments in the non-ferrous metals sector in the state.

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HZL raises zinc rates, keeps lead unchanged

December 27, 2008: Vedanta Resources group firm Hindustan Zinc Limited (HZL) said it has hiked the prices of zinc, used in producing galvanised steel, by Rs 1,800 to Rs 63,400 a ton.

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Hindalco expansion on track

December 26, 2008: Hindalco Industries plans to continue with its expansion programme as scheduled despite the international slump.

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Bosch to shut down Bangalore plant for 8 days

December 26, 2008: German auto component maker Bosch is expected to down the shutters on its Bangalore manufacturing facility for eight days to prevent stocks from piling up.

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Nalco plans cost-cutting

December 24, 2008: Nalco has decided on a cost-cutting initiative as the international price of aluminium on the London Metal Exchange (LME) plummeted to $1,430 per ton, against $3,000 per ton in July.

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Peru's copper, zinc production up in Nov

December 24, 2008: Peru has reported a production increase of its major metals in November as compared to the same month a year ago, stated the Energy and Mines Ministry recently.

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Chelyabinsk Zinc cuts 2009 output forecast

December 24, 2008: Chelyabinsk Zinc Plant of Russia has revised its 2009 forecast. This is the second time in this year that the zinc producer has revised the forecast after the plant reported a loss during the first nine months of this year.

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India's Apr-Nov aluminium production falls short of target

December 23, 2008: The total aluminium production from India's private as well as public companies have added up to 844,489 tons in the April-November period, against the target of 851,789 tons, revealed recently published data by the Ministry of Mines.

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World aluminium output declines in November

December 23, 2008: World output of aluminium declined by 105,000 tons in November revealed a recently published data by International Aluminium Institute (IAI).

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Shree Cement goes to Mumbai market

December 23, 2008: Shree Cement has always been a dominant player in the northern markets but now it has been forced to dispatch to the Mumbai markets on the back of inventory pileup and declining realisations.

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Ess Dee Aluminium to restart Hoera unit soon

December 22, 2008: Ess Dee Aluminium plans to reopen the Hoera facility by March 31, 2009. The unit belongs to India Foils (IFL), which Ess Dee acquired recently.

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Vedanta seeks more land for West Bengal unit

December 22, 2008: Vedanta Aluminium will ask the West Bengal government for 1,200 acres more for its proposed greenfield plant.

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Nalco ties up with Rak Minerals for Indonesian venture

December 22, 2008: National Aluminium Company (Nalco) and Rak Minerals & Metals Investments (RMMI) have entered an agreement for the latter's Rs 14,000-crore Indonesian project.

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ACC postpones readymix concrete expansion

December 22, 2008: Lack of demand has forced ACC to hold back the Rs 600-crore expansion programme planned for its readymix concrete (RMC) business, ACC Concrete.

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Centre further relaxes ban on cement exports

December 21, 2008: The government on 20 December relaxed the ban on export of cement in the backdrop of waning demand for this crucial construction input from the real estate sector.

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Metals may melt again

December 21, 2008: Hovering below the cost of production, base metals are likely to move in a close range next week on need-based fresh buying from cable and housing sectors.

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Nalco, RMMI sign pact for Indonesian venture

December 21, 2008: National Aluminium Company (Nalco), singed an agreement with Rak Minerals and Metals Investments (RMMI) for its Rs 14,000-crore Indonesian project.

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Tyre companies resort to cutting output

December 19, 2008: Pushed to the wall by cheap imports from China and tapering demand, tyre manufacturers have decided to cut production to protect their bottomline.

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ONGC, OIL told not to subsidise crude

December 19, 2008: The government has told ONGC and Oil India Ltd not to extend any discounts with effect from last week of November to public sector oil marketing companies (OMCs) - Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation - on the sale of crude oil.

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McNally bags 2 Vedanta orders

December 19, 2008: McNally Bharat Engineering Company Ltd has informed that it has received two orders from the Vedanta Group.

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Tyre makers hit by auto slump

December 19, 2008: Major tyre producers are currently supplying some 70 percent less to automakers due to the slowing demand for new cars.

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OZ Minerals to suspend Avebury operations

December 19, 2008: Australia's third largest diversified mining company OZ Minerals has announced that it will be putting the Avebury nickel mine on care and maintenance until further notice.

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Cement sector growth rate to stay low

December 19, 2008: The government's package and lower interest rates on housing loans is unlikely to help the cement industry regain its previous pace of growth, which has slowed to below 7 percent this financial year.

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RFID technology eases supply chain workload

by Rajesh Ray

December 17, 2008: Radio frequency identification (RFID) is a most-talked about technology in supply chain management today. It was originally developed to identify friendly aircraft during World War II.

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Vendors map buyer mindset now

by Neha Prasad

December 17, 2008: Just as buyers classify their vendors to identify who should be their strategic and tactical partner, suppliers also follow a buyer segmentation model to determine who is fit to be a partner and who would be more of a nuisance. Thus, a study of supplier mindset and motivation should be made in addition to other evaluation parameters before selection.

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Consumers prefer XLPE cables over PVC

by Arusha Das

December 17, 2008: With the price difference between cross-linked polyethylene (XLPE) low tension (LT) cables and poly vinyl chloride (PVC) cables gradually declining, it is good news for the consumers of the former.

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S.N. Singh new MD of RSP

December 17, 2008: Shesh Narayna Singh, the executive director (works) of Durgapur Steel Plant (DSP), has taken over as the managing director of Rourkela Steel Plant (RSP), a unit of the Steel Authority of India (SAIL).

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Global players enter equipment making field

December 17, 2008: India seems to be becoming an equipment manufacturing hub of sorts, with some globally renowned manufacturers setting up shop in the country.

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Mineral export earnings up for Australia

by Neha Prasad

A combination of better export prices for bulk commodities and higher volumes resulted in a 22 percent increase in earnings from energy and minerals exports for Australia in the September quarter. The figure rose to $42.6 billion.

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Strategies to mitigate volatility discussed

December 17, 2008: In a volatile market scenario, the purchase manager's job becomes really challenging.

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HCL to shut down Khetri smelter

by Rajkumar Mitra

December 17, 2008: Hindustan Copper (HCL) will not have to import copper metal in concentrate (MIC) to manufacture copper cathodes any more, as they will shortly close down their smelter at Khetri, Rajasthan and run only their other smelter at Indian Copper Complex (ICC) at Ghatsila in Jharkhand. For this one smelter, domestic MIC will be enough.

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Centre unveils fiscal sops to prop up industry

by Chandrika Bose

December 17, 2008: In an effort to minimise the impact of the shrinking global economy on the Indian front, the government opted for a string of stimulus packages.

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Month, Money and Market: November

by Chandrika Bose

December 17, 2008: With the global financial meltdown creeping into the Indian economy, the RBI and government are rolling out all possible monetary and fiscal measures to counter this situation and to sustain consumer confidence that has taken a toll following the Mumbai terror attacks.

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Falling prices open new avenues for 3PL cos

December 17, 2008: Falling commodity prices and shipping freight rates might be good for Indian buyers but timely delivery is also a major challenge in the current market scenario. Thus, it is party time for third party logistics (3PL) service providers, which are providing dedicated services to customers.

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Responsive purchasing can combat price volatility

by Rajkumar Mitra

December 17, 2008: The current price volatility has taken a heavy toll on industrial buyers who thought they could use inventory to shield production when input material was scarce in the market.

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Project cos strategise to survive difficult times

December 17, 2008: Project companies have been severely affected by the economic downturn. The sudden squeeze of funds has hit most project purchases. However, these companies had effective strategic procurement processes and with a long term vision, they hope to tide over the current problem.

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National policy can help arrest price volatility

by Rajkumar Mitra

December 17, 2008: It is a fact that the bargaining power of a purchaser increases if an industry has more manufacturers from the small & medium (SME) sector than from the large sectors. However, it is also true that the greater the number of SMEs, the greater is the price volatility.

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The art of purchasing in tough times

December 17, 2008: With domestic consumer confidence hitting rock bottom after the near collapse of the western economy, industries across the country have taken a severe hit, not only in their topline but also in their bottomline growths.

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CESC to invest Rs 2000 cr to strengthen distribution network

December 17, 2008: In order to strengthen its distribution system, CESC, the flagship company of RPG Enterprises, will invest Rs 2,000 crore over a period of three to five years.

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Nalco postpones Saudi Arabia plans

December 16, 2008: National Aluminium Company (Nalco) has reportedly deferred its Saudi Arabia plans after it did not manage to secure coal for the project.

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Coal-hunt laggards face heat

December 13, 2008: The government has cancelled exploration licences for 166 coal blocks as the entities with exploration rights have failed to start work.

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Nalco signs strategic deal with Rio Tinto Alcan

December 13, 2008: National Aluminium Co Ltd (Nalco) said that it has signed an agreement with Rio Tinto Alcan to increase its global presence.

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Orissa to explore Tangarapada chrome ore mines

December 12, 2008: The Orissa government has decided to complete prospecting Tangarapada chrome ore mines within the next two to three months.

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Exploration yields poor mining results

December 11, 2008: At least 60 percent of domestic exploration activities has yielded no promise for commercial mining of metals and minerals.

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Hindustan Copper plans smelter shutdown

by Rajkumar Mitra

December 10, 2008: Hindustan Copper Ltd (HCL) will shortly close down their smelter at Khetri, Rajasthan and run its other smelter at Indian Copper Complex (ICC) at Ghatsila, Jharkhand from domestic copper concentrate.

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Rlys ups cement freight charges

December 10, 2008: The Indian Railways has increased freight charges on cement by about 8 percent.

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Ambuja Cements slashes prices

December 10, 2008: Ambuja Cements has lowered prices up to Rs 6 per bag after the government reduced Cenvat by 4 percent.

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Cement companies unwilling to lower prices

December 9, 2008: Few cement producers are willing to reduce prices in the aftermath of the 4 percent cut in central excise.

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S.Korea's Young Poong to cut zinc output by 10 pct

December 8, 2008: South Korean zinc refiner Young Poong has announced that it plans to slash production of zinc by 10 percent from 8th December on the back of decreasing prices and weak demand.

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Thorium Power, Punj Lloyd plan JV for LWR technology

December 6, 2008: US-based Thorium Power and Punj Lloyd have decided to form a joint venture (JV) to provide thorium fuel technology for light water reactors (LWR). India predominantly generates nuclear power using LWRs.

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Lafarge, Grasim ready-mix concrete plans on track

December 5, 2008: Lafarge and Grasim Industries are going ahead with their ready-mix concrete (RMC) expansion plans in India.

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Cement makers demand adequate coal supply

December 5, 2008: Cement makers are upset about the continually shrinking coal linkages from Coal India to below 50 percent, as production costs keep rising.

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Cement inventories slip marginally

December 5, 2008: Export demand has picked up a bit, along with sales in the south, for the likes of ACC, Ambuja Cement and Aditya Birla Group. Inventories came down marginally in November.

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Dalmia Cement (Bharat) commissions Andhra unit

December 3, 2008: Dalmia Cement (Bharat) Ltd has announced the commissioning of a 2.25-million ton greenfield cement project in Kadapa, Andhra Pradesh.

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Bagaria group plans cement unit in Kutch

December 2, 2008: Kolkata-based Bagaria group is in talks with the Gujarat government for setting up a cement unit in Kutch.

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Xstrata-Merafe Chrome Venture cuts 52 percent ferro chrome capacity

December 1, 2008: Xstrata-Merafe Chrome Venture announced a 52 percent cut in its ferro chrome producing capacity today.

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Iran to increase production of steel, copper, coal

December 1, 2008: Iran would be increasing its production of steel, copper and coal from now to 2012, informed Industry Minister Ali Akbar Mehrabian recently.

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China may cut export tax on lead, aluminium

December 1, 2008: China is likely to remove export taxes on refined lead while reducing them on primary aluminium and aluminium alloy informed analysts on November 28.

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Binani's South Africa project hits land hurdle

November 29, 2008: Binani Cement is facing land acquisition problems for its grinding unit in South Africa.

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Norilsk 9-month nickel output 218,474 tons

November 29, 2008: Leading nickel producer Norilsk Nickel said on 28th November that nickel output for the first nine months of the present year was 218,474 tons, mainly in line with about 219,000 tons produced during the same period last year.

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Aluminium heads for worst losing streak since 1999

November 29, 2008: Aluminium headed for its worst losing streak since 1999 in London on speculation increased shipments from China, would exacerbate a global oversupply of the metal.

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Holcim to go ahead with India expansion

November 28, 2008: Holcim has decided to continue with its $2-billion expansion in India till 2010.

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Mittal Energy Investments put Vizag unit on hold

November 28, 2008: Mittal Energy Investments will hold funds slated for the proposed Rs 50,000-crore joint venture refinery project at Visakhapatnam.

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MCX, NCDEX shut for the day

November 27, 2008: Terror attacks in Mumbai have led the Multi Commodity Exchange (MCX) and the National Commodity & Derivatives Exchange (NCDEX) to stay closed for the day.

MCX currency futures exchange, MCX SX, is also closed.

Source: The Economic Times

Introducing SRM as a process enabler

by Rajesh Ray

November 26, 2008: A leading technology solution that is increasingly becoming popular among sourcing professionals is supplier relationship management (SRM).

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Sept power generation 8% of target: CEA

by Sourcing Insights Bureau

November 26, 2008: According to a recent Central Electricity Authority (CEA) report, total energy generation in the country for September 2008 stood at 59120.24 GWH.

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Sterlite may lose 23,000 tons copper after shutdown

November 26, 2008: Sterlite Industries expects to lose 23,000 tons of copper production for a month after damage to a cooling tower closed its 400,000-ton smelter in Tuticorin.

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SAP clears inventory troubles for Tata Steel

by R.K. Singh

November 26, 2008: Inventory control and easy procurement of spares might pose a challenge to organisations which stick to the classical rules of inventory classification.

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Saudi Aramco in talks to join Vizag refinery project

November 26, 2008: The world's largest oil company, Saudi Aramco, is likely to step in as the new joint venture partner in one of India's largest oil and gas projects, the over Rs 50,000-crore refinery-cum-petrochemical project at Visakhapatnam in Andhra Pradesh.

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Dumping duty on caustic soda to continue

November 26, 2008: The Designated Authority in the Commerce Ministry has recommended continuation of the existing definitive anti-dumping duty on caustic soda imports from China and South Korea.

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Tata Chem acquires 35% in Singapore jatropha firm

November 26, 2008: Tata Chemicals, leading manufacturer of caustic soda and fertilisers in the country, said that it had bought a 35 percent stake in JOil Pte, a Singapore-based jatropha seedling company.

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OZ cuts Century zinc output, defers A$495m in spending

November 25, 2008: Diversified Australian mining company OZ Minerals has informed that it would output at its Century mine by 20,000 tons per year (tpy).

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Jaypee Group plans 5-mt cement unit

November 25, 2008: The Jaypee Group will invest about Rs 1,600 crore in a new cement plant near Jaggaiahpet in Krishna district.

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Hindalco going ahead with new project plans despite downturn

November 25, 2008: Hindalco Industries is going ahead with its new project plans despite odds.

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UAE project stuck for JK Cement

November 25, 2008: JK Cement's 2.2-million ton (mt) cement plant was scheduled to go onstream in the UAE by the middle of 2010.

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Hindalco going ahead with new project plans despite downturn

November 25,2008 - Hindalco Industries is going ahead with its new project plans despite odds.

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Titagarh Wagons, US co tie up for aluminium coal cars

November 25, 2008: Titagarh Wagons' memorandum of understanding with Freight Car America (FCA) is expected to show results by the middle of next year.

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IDEB Projects to export cement to Maldives

November 25, 2008: IDEB Projects Ltd has been permitted by the Centre to export cement to Maldives in a phased manner till February next year.

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Cement industry sees 'gloomy' H2 on low demand

by Rakesh Dubey

November 24, 2008: The Indian cement industry sees a "gloomy" picture ahead, amid apprehensions of a slowdown in demand from the real estate sector.

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Cheaper Chinese calcined pet coke arriving at Indian market

November 24, 2008: Chinese calcined petroleum coke (CPC) used by the aluminium and steel industries, which are not only cheaper but better in quality is arriving at the Indian port recently.

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Confusion brewing in telecom sector over spectrum allocation

by Arusha Das

Spectrum allocation as well as spectrum fee, are two issues currently plaguing the Indian telecommunication industry.

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Eco-friendly efforts from Balmer Lawrie

by Nudrat Alim

November 24, 2008: Indian industry is slowly but steadily becoming environment conscious.

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Domestic production grows 4.8% in September

by Chandrika Bose

November 24, 2008: International economic conditions have worsened and the global recession is adding to economic woes worldwide.

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Centre asks Orissa to speed up Potangi mining lease

November 24, 2008: The government is trying to help National Aluminium Company (Nalco) get on with its expansion plans by asking Orissa to quickly grant the mining lease for Potangi bauxite mines.

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Mines secretary, Patnaik discuss Orissa mine sector

November 24, 2008: Union mines secretary Santanu Consul discussed several issues at the state secretariat meeting with Orissa chief minister Naveen Patnaik.

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Rio cuts Lynemouth aluminium smelter output

November 24, 2008: Mining company Rio Tinto reduced production by a third at its 180,000 tons Lynemouth smelter in northern England from the beginning of November, informed a spokesperson of the company recently.

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Global nickel market in 43,000-ton surplus in Jan-Sept

November 24, 2008: In the first nine months of 2008 the world nickel market recorded a greater surplus as output surpassed demand by about 43,000 tons, the World Bureau of Metal Statistics (WBMS) revealed recently.

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Cement prices slip; east bears the brunt

November 23, 2008: Cement prices in the eastern part of the country have softened by as much as Rs 10 - Rs 12 for a 50-kg bag over the last fortnight.

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Birla Minerals halts Aussie project

November 22, 2008: Aditya Birla Minerals, a subsidiary of aluminium giant Hindalco Industries Ltd engaged in the exploration, mining as well as marketing of copper in Australia, has suspended work on the Ezperanza South Project at its Mount Gordon operations in Australia.

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Nalco picks washed coal to keep smelters afire

November 22, 2008: National Aluminium Company (Nalco), which was on the brink of a major coal crisis till a couple of weeks back, has adopted a new strategy to ensure coal supplies.

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Impose import duty, says Binani Cement

November 22, 2008: Close on the heels of 5 percent customs duty on steel, Binani Cement has urged the government to impose import duty and countervailing duty to bail out the distressed cement companies.

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Hindustan Copper sees 10% fall in output

November 22, 2008: Hindustan Copper Ltd (HCL) is expecting a 10 percent fall in production in the fiscal year to end-March 2009, a senior company official said.

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Common European standards envisaged

November 21, 2008: While India is still striving for crafting as well as compliance of its own national standardisation process, Europe has gone one step ahead and has conceived of uniform standards for the entire European Union.

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Feasible testing process required for ferro alloys

by Rajkumar Mitra

November 21, 2008: Both manufacturers and buyers in India often dodge standards on the pretext of improved productivity, but this often results in wastage of valuable natural resources.

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Indian standards inadequate for cable buyers

by Rajkumar Mitra

November 21, 2008: Buyers are often misguided by Indian Standards (IS) as some procurement, if benchmarked on these standards, can give undesired results.

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Monopoly the bane of imposed standards

by Rajkumar Mitra

November 21, 2008: Several manufacturers are cashing in on the perceived weakness of standards being set by the Bureau of Indian Standards (BIS), and are increasingly using it to strengthen their own competitive advantage.

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Tata Chemicals wins JRD QV award for CRS initiative

by Arusha Das

November 21, 2008: Crushed refined soda (CRS), a recently found substitute for soda ash by Tata Chemicals, has set an example of sorts on how innovation can be amalgamated with business. For this, the company managed to bag the much coveted JRD QV Award for innovation.

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Crude oil tumbles to lowest since May 2005 as recession deepens

November 21, 2008: Crude oil touched its lowest level since May 2005, after declining almost $100 a barrel from its peak in July on the back of slowing demand as factories cut output.

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OVL to make Imperial offer by December 9

November 21, 2008: ONGC Videsh (OVL), the overseas arm of state-run Oil and Natural Gas Corporation, will make an offer to acquire shares of UK-listed Imperial Energy Corporation at £12.50 a share by December 9.

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MoEF says no to mineral exploration in forests

November 20, 2008: The search for new mineral reserves may be affected by the Ministry of Environment & Forests' (MoEF) stand against exploration in forests. Global majors such as Anglo American, BHP Billiton and Rio Tinto -- who have invested in exploration for minerals -- may have to restrict expansion.

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GMR Infrastructure not to buy stake in S Africa company

November 20, 2008: GMR Infrastructure Ltd has decided against acquiring 50 percent in South Africa's Homeland Mining Energy.

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Ess Dee Aluminium buys India Foils

November 20, 2008: Ess Dee Aluminium has bought Kolkata-based India Foils from Madras Aluminium (Malco). Ess Dee will soon restart India Foils' closed foil stock and rolling plant in West Bengal.

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Vedanta chalks out $4.6-bn expansion for Jharsuguda unit

November 19, 2008: Vedanta Aluminium Limited (VAL), currently setting up a 0.5-million-ton (mt) aluminium smelter and 675 MW captive power plant at Jharsuguda in Orissa, has chalked out a massive $4.6-billion expansion for the project.

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OVL bags 2 onshore blocks in Colombia

November 19, 2008: ONGC Videsh (OVL), the overseas investment subsidiary of the country's largest oil producer Oil and Natural Gas Corporation (ONGC), has won two onshore oil and gas exploration blocks in Colombia.

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High inventory plagues ferro alloy industry

November 18, 2008: Huge inventory both at producers and consumers end is leading the ferro alloy industry to a grinding halt.

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World refined zinc production up

November 18, 2008: World refined zinc production during January-September stood at 8.825 million tons (mt) as compared to the consumption of 8.713 mt, revealed data released by the International Lead and Zinc Study Group (ILZSG).

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India's metals production figures released

November 18, 2008: India's state run and private companies together produced 631,901 tons of aluminium during April-September 2008.

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Public sector oil firms make profit on petrol, diesel sales

November 17, 2008: Public sector oil companies have for the first time in more than a year started making profit on sales of petrol and diesel, strengthening the case for a fuel price cut soon.

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Australia's IRL eyes alliances with Indian mining sector

November 17, 2008: West Australia-based India Resources Limited (IRL) is looking at forming more alliances with Indian private and public sector units in the mining sector especially in base metals, copper, gold and diamond category for carrying out extensive exploration and mining activities based on the outsourced model.

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Tyre imports from China may rise to 82%

November 17, 2008: Inflationary pressures in the domestic arena and lower import duties have boosted import of tyres from China, which comes at a much cheaper price compared to Indian tyres.

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Tata Chem buying 600 acres for Gujarat soda ash unit expansion

November 17, 2008: Tata Chemicals (TCL), a part of the $28.8-billion Tata Group and the world's second largest manufacturer of soda ash, is planning a massive expansion near its chemical complex in Mithapur region of Gujarat for an investment of Rs 700 to Rs 1,000 crore.

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Mechel, Russian Rlys sign rail supply agreement

November 16, 2008 : Mechel's Chelyabinsk Metallurgical Plant and Russian Railways have signed a pact for supply of rail products.

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Iran , India cross swords over rly project

November 16, 2008 : Iran wants India 's multi-crore railway project undertaken there on build-operate-transfer (BOT) basis, whereas India wants to build-lease-transfer (BLT).

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Cement cos capacity utilisation slides

November 15, 2008: Capacity utilisation for cement sector has slipped to a four-year low on the slowdown in demand from construction and other sectors. Addition of new capacity has not helped the situation.

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Cement exports up in quarter ended Sept

November 14, 2008: An increase in exports have brought some respite to the recession-hit cement industry.

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NTPC plans to start cement SPV soon

November 14, 2008: NTPC is likely to launch a special purpose vehicle (SPV) in two months for its foray into cement manufacturing. The company will have a 26 percent share in the SPV.

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Paradip Port may build Rs 70-crore oil berth

November 14, 2008: Paradip Port Trust (PPT) has sought approval from the Shipping Ministry for constructing a second oil berth at an estimated Rs 70 crore.

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OVL consortium bags Colombia oil block

November 13, 2008: ONGC Videsh (OVL), the overseas arm of public sector oil explorer ONGC, has bagged an oil block in Colombia. OVL, as part of a 50:50 consortium, has been awarded the block through an auction.

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Higher subsidy may hit Gail's Q3 profit

November 13, 2008: The country's oil and gas producers have been forced to bear a higher-than-expected subsidy burden for selling fuel to the oil marketers in the fiscal second quarter, as the government has issued less oil bonds than earlier projections.

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Commodity price crash hurts firms

November 13, 2008: Companies are stuck with huge inventories. The crash in commodity prices is hurting companies as many are carrying huge inventories of raw material, and in some cases, finished goods made with raw material bought at higher prices.

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Cement companies keen on JV with NTPC

November 12, 2008: The country's largest power generation company, National Thermal Power Corporation's (NTPC), move to foray into cement making in a joint venture has aroused interest among the domestic cement players.


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Bulk ferro alloys industry in trouble

November 11, 2008:

By Gilbert Lobo: Prices of the bulk ferro alloys industry are seeing a sharp fall after reaching dizzy heights in July-August 2008.

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Andhra counts on RIL to fast-track gas distribution

November 11, 2008: Consumers in Andhra Pradesh can look forward to getting natural gas through pipelines by December this year.

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Xstrata-Merafe to close 6 ferro chrome furnaces

November 10, 2008: Xstrata Alloys and Merafe Resources Limited have informed that it was closing six furnaces temporarily.

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Russia Jan-Sep aluminium export 10%

November 10, 2008: Russian exports of aluminum have dropped 10 percent to 2.625 million tons (mt) during January-September this year as compared to the same period a year ago.

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Dubai Aluminium sticks to 1 mt production target for now

November 10, 2008: The Dubai Aluminium Co (DUBAL) has a production target of 1 million tons for 2009, up 4 percent from this year, but may review it due to the global financial crisis, the state-run company's chief executive, Abdulla Kalban has said.

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Jindal South's aluminium refinery plan hits hurdle

November 10, 2008: Jindal South West Aluminium's investment plan of Rs 9,000 crore to establish a 1.4-million-ton alumina refinery and 0.25-million-ton aluminium smelter in Andhra Pradesh, has run into rough weather.

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Cement firms' cost of production rises 17 pc in Q2

November 9, 2008 : Nine major cement companies having a market share of 65 percent have reported a 17 percent jump in cost of production to Rs 138 for a 50 kg bag in the second quarter of the financial year ended September 30.

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Rio Tinto seeks bauxite resources

November 7, 2008: Rio Tinto will develop bauxite mines before investing nearly $2.2 billion in a greenfield alumina refinery and a 2.5-million tons (mt) per annum smelter plant in India. Total investment is pegged at around Rs 8,200 crore for the entire project.

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Vedanta set to cut India investment

November 7, 2008: Vedanta Resources has joined the list of names planning to decrease production due to the dip in demand and prices. It will also invest $5.1 billion less in India after an over 9 percent drop in profits for the first half of 2008-09.

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Cement industry average valuation at $50/ton

November 7, 2008: The cement sector's valuation has taken a big hit from the manufacturing slump. Current average valuation has dropped to $50 a ton, from $200 a year ago.

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Copper prices likely to pick up

November 7, 2008: Copper prices are likely to pick up next year said the chairman and managing director of Hindustan Copper Limited (HCL), S.C. Gupta.

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LME copper prices down 25% in October

November 6, 2008: Copper prices on the London Metal Exchange stood at 270.34 cents per pound on October 3, from 362.79 cents per pound in the same month, last year.

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Chalco smelter nears completion

November 6, 2008: Aluminum Corp of China (Chalco) is close to completing work on its aluminum smelter in China's eastern Shandong province.

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Copper production rises in Zambia

November 6, 2008: Copper cathode production in Zambia increased 12.9 percent to 3,77,598 tons for the eight months to August, compared to last year's output during the same period.

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Price falls hit China copper companies

November 6, 2008: The downfall in prices since July has forced more than 40 percent of China's refined copper capacity to cut back production.

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Production hit at Dubai Aluminium Company

November 6, 2008: Dubai Aluminium Co's (Dubal) production has been hit by "an interruption in the power supply."

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Rusal stops work at Ukraine aluminum unit

November 6, 2008: United Company Rusal has decided to stop production at the Zaporozhye Alumina & Aluminium Complex in Ukraine.

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Raw material price fall may not help cement consumers

November 6, 2008: Consumers may not benefit by the recent fall in prices of cement raw materials as excess capacity has brought the sector under pressure.

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India Cements may relocate Himachal unit

November 5, 2008: Infrastructure problems and the industrial slowdown may prompt India Cements to put its proposed 2-million tons (mt) unit in Himachal Pradesh on hold or set it up elsewhere.

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OMC to float tender for operating Daitari unit

November 5, 2008: Orissa Mining Corporation (OMC) plans to outsource operations and maintenance of its Daitari ore handling plant (OHP). It will float a tender for this soon.

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Chalco's Shandong Aluminum Smelter Nears Completion

November 5, 2008: China's biggest aluminum and alumina producer Chalco, has informed that construction of the $ 61 million aluminum smelter in China's eastern Shandong province is nearly completed.

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Southern cement companies declare better results

November 4, 2008: Cement companies earnings may be driven down by the increased costs of power and fuel, coupled with high coal prices.

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Chelyabinsk Zinc to cut production

November 3, 2008: Russia's OAO Chelyabinsk Zinc plant has joined the growing number of companies planning to reduce production activities in face of the world economic crisis.

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Japan September zinc stock down 10.3%

October 31, 2008: Inventories of refined zinc in Japan were flat on year but fell 10.3 percent on month in September to 17,906 tons as per a data released by the Ministry of Economy, Trade and Industry.

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Metals sector flattened by liquidity crunch

October 30, 2008: The global recession has found targets in the steel and non-ferrous industries, including aluminium and copper.

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Zambia mining co shortlists Vedanta, Nava Bharat Ventures

October 30, 2008: Zambia Consolidated Copper Mine Investment Holdings (ZCCM-IH) has shortlisted Vedanta Resources, Aldwych International and Nava Bharat Ventures to develop and operate a coal mine and build a 400-MW thermal power plant there.

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China Copper Processors Cut Output On Falling Orders, Prices

October 29, 2008: Copper processors in China have started to slash production as orders from both the domestic as well as from abroad reduce and as buyers wait for prices to drop further, industry executives have opined.

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Cement dealers' margins may be hit soon

October 29, 2008: Cement dealers have been safe from the slowdown in demand and rising input costs till now.

While the price at which dealers get cement from manufacturers remains fixed, the price at which they sell it to builders, contractors and individuals is left to the discretion of dealers. Typically, cement dealers have a margin of around 8 to 10 percent on the retail price sold to end consumers.

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Hindustan Zinc cuts prices

October 24, 2008: Hindustan Zinc has declared a reduction in the prices of zinc and lead by Rs 2,800 and Rs 3,400 a ton, respectively.

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IT can be big business for small enterprises

by Neha Prasad

October 22, 2008: Small and medium enterprises (SMEs) are an essential building block in today's procurement industry.

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Focus on Jatropha as alternative bio-fuel

by Sarbani Haldar

October 22, 2008: With awareness on alternative sources of energy gaining ground, the importance of bio-fuels as an alternative source of fuel is emerging fast.

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China's Jintian cuts copper output as demand falls

October 22, 2008: Ningbo Gold Resources Copper Industry Group of China has reduced output as the demand of copper decline informed the company.

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Norsk Hydro: Aluminium demand growth dropping in China

October 22, 2008: The demand of aluminium in China which had been so far witnessing an increase, is likely to come down by nearly two thirds this year thereby putting an end to the "extraordinarily high" annual growth rate witnessed in 2007, Norsk Hydro ASA said.

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World aluminium output down 3.2% in September

October 22, 2008: Total world aluminium output declined by 3.2 percent to 2.103 million tons in September as compared to August.

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Steel, aluminium shipments in US, Canada decline

October 21, 2008: In September, shipments of steel and aluminium products from the metal-service centres in the US and Canada declined as compared to same period a year ago.

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China Sept copper production rises 4.7% on year

October 21, 2008: In September China's copper production increased 4.7 percent on the year to 317,000 tons.

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Byrnecut Mining out of race for Hindustan Copper mine

October 21, 2008: The financial slowdown and weak copper prices have led Australia's Byrnecut Mining to withdraw its bid to explore, develop and operate Hindustan Copper's Banwas mines in Rajasthan.

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Production increase fails to impress cement companies

October 20, 2008: Cement makers feel that although new capacity has resulted in production rising, it is adding pressure to prices.

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Nissan to export 1,10,000 cars via Ennore Port

October 20, 2008: Ennore Port (EPL) will now help Japan's Nissan Motor Corporation to export cars manufactured here to European markets.

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Turkish copper producer sees demand down 10-15%

October 20, 2008: Leading Turkish copper producer Sarkuysan expects demand from consumers to decline by 10-15 percent in 2009.

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Sterlite wants Asarco at cheaper price

October 16, 2008: The liquidity crisis and weak copper prices have led Sterlite Industries to seek a reduction in the price tag for Asarco.

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Vedanta Q2 zinc, iron ore output up, copper down

October 15, 2008: Vedanta Resources Plc has reported gains in second-quarter zinc and iron ore output. However, the company's copper production has declined.

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Chinalco says crisis won't hurt Peru copper project

October 15, 2008: The worldwide economic crisis would not affect the financing of the Chinese copper producer Chinalco's $2.2 billion Toromocho copper project in Peru.

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Sumitomo Mining to build $2-billion nickel plant

October 15, 2008: Sumitomo Metal Mining Co. of Japan will start construction of a $2-billion nickel processing plant in southern Philippines, informed a company official.

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Local metals cos may see lower Q2 results

October 15, 2008: The forecast for the second quarter is dull as a correction in prices, the global economic slowdown and higher input costs would adversely affect second quarter results for domestic metal producers.

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Alcoa signs power MoU with Bonneville Power Administration

October 14, 2008: Alcoa has entered into a memorandum of understanding (MoU) with Bonneville Power Administration (BPA) for a power contract to feed the requirements of Alcoa Intalco Works (aluminium smelter) till 2028.

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Norilsk: Nickel market seen in surplus until mid-2009

October 14, 2008: It is likely that the world nickel market would continue to be in surplus until the middle of 2009, opined an executive in the world's largest nickel producer OAO Norilsk Nickel.

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Nalco cuts prices by Rs 4,500 per ton

October 14, 2008: National Aluminium Co (Nalco) has slashed aluminum prices by Rs 4,500 per ton to Rs 1,28,400 ($93.50).

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China copper imports seen rising in September

October 13, 2008: Imports of unwrought copper and semi-finished copper products in China are likely to rise in September as compared to the previous month, supported by attractive margins opined analysts and traders.

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Alcoa revenues rise to $7.2 billion

October 10, 2008: Alcoa has reported a net income of $268 million, which included $29 million for restructuring. Revenues excluding divested businesses stood at $7.2 billion, an increase from $6.5 billion in the third quarter of 2007.

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Codelco sees 2008 Andina copper output 220,000 ton

October 10, 2008: This year Chile's Codelco expects its copper output at its Andina division to be 220,000 ton. Further it expects it to rise to 240,000 tons in 2010 as the first phase of its expansion starts informed the state miner.

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Natural rubber output surges

October 8, 2008: Natural rubber production has gone up by 27 percent so far in this fiscal, FY2008-09, on the back of conducive climate and higher prices while consumption, too, gained pace, with rising demand from tyre manufacturers and rose by 5 percent.

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Thermax bags Rs 450 cr order for captive power plant

October 7, 2008: Thermax has clinched a Rs 450 crore order for setting up a captive power plant from an integrated steel unit.

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Hindustan Zinc targets major contribution from overseas

October 3, 2008: Hindustan Zinc (HZL) expects capacity addition to be completed by 2010 and lead to an overseas contribution of 55 percent of turnover.

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Low demand for shallow water rigs hits offshore services

October 3, 2008: The offshore service segment has witness a fall in demand for shallow water rigs.

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Benzene Prices

October 3, 2008: The September end Reliance Petrochem's Benzene price ruled steady at Rs. 58 (basic) and the BPCL price for the product stood at Rs. 58.95 (basic), as per a Chemical Weekly report dated Sep 24, 2008.

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Chile copper output drops

October 1, 2008: In August, copper production in Chile declined 1.2 percent on the year to 425,524 tons, as compared to 430,801 tons produced in the same month a year ago informed Chilean government statistics agency INE.

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Mexico copper output falls in July

September 30, 2008: Copper output in Mexico registered a 12.5 percent decrease to 23,600 tons in July as compared to the same month a year ago.

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HZL hit by zinc fall

September 30, 2008: Zinc has slipped about 6 percent to $1,780 per ton in the past two months, opposed to the $4,100 per ton high touched in October 2007. This is probably why Hindustan Zinc (HZL) net sales declined 8 percent year-on-year to Rs 7,878 crore in 2007-08, despite a 22.4 percent y-o-y increase in production of saleable zinc.

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Hindustan Zinc to set up Haridwar unit

September 29, 2008: Hindustan Zinc is ready to set up a 3,65,000-tons per annum (tpa) zinc dust and 36,500 tpa CGG plant near Rajaji national park in Haridwar after it got approval from the National Board for Wildlife.

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Cement dealers' margins may drop

September 26, 2008: High input costs may lead cement companies to restructure dealers' margins.

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World primary aluminium demand seen up 7%: Norsk Hydro

September 26, 2008: Norwegian aluminium and renewable energy company Norsk Hydro ASA, has said that as compared to the earlier expectation of the global primary aluminium consumption growth being about 8 percent it is now expects it to be about 7 percent in 2008.

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Vedanta Resources plans expansion to 2.6 mt

September 26, 2008: Vedanta Resources has lined up a $9.8-billion investment to raise annual smelting capacity to almost 2.6 million tons (mt) by 2012. It aims to become the world's fifth-largest aluminium producer.

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Vedanta decides against revamp

September 25, 2008: Vedanta Resources plc has given up plans to divide its corporate structure into three units.

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Rlys to offer discount for caustic soda, soda lye, alumina

September 25, 2008: Caustic soda, caustic soda lye and alumina are likely to witness a reduction in transportation costs as Indian Railways has planned a 5 percent to 6 percent freight rebate applicable to privately-owned wagons.

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High energy costs to alter aluminium scenario: official

September 25, 2008: Risk arising out of supply side mainly high cost of energy together with a favourable demand is likely to change the present condition of the aluminium market which is now in oversupply in two to three years felt a senior executive with Norsk Hydro ASA (NHY).

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Global aluminium output increases in Aug

September 24, 2008: The total world aluminium output saw an increase of 4,000 tons in the month of August as compared to total production in July.

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Australia cuts zinc, nickel outlook

September 23, 2008: Australia has cut estimates of annual zinc and nickel output due to decreasing prices and domestic energy crisis. However, it remained optimistic inspite of fears of global recession.

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Cement prices to rise Rs 3-5 per bag soon

September 23, 2008: Markets in Mumbai, Delhi-NCR, Gujarat and the south are likely to see a Rs 3 to Rs 5 per bag rise in cement prices. This will take prices to Rs 245 to Rs 275 per 50-kg bag.

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Aluminium production rises in India in April-Aug period

September 23, 2008: Both the state run and private companies of India together produced 526,859 tons of aluminium during April-August period as compared to 510,623 tons a year ago.

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Oil steadies over $104

September 22, 2008: Oil firmed up above $104 a barrel on Monday after an initial gain. Investors pulled back on doubts over the working of the US government's $700-billion bank bailout plan.

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Nalco starts process for phase III expansion

September 22, 2008: National Aluminium Company (Nalco) plans has appointed a consultant for detail engineering of its alumina refinery and power plant under its proposed third phase expansion.

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Nalco sees growth path ahead

September 22, 2008: National Aluminium Company (Nalco) plans to invest Rs 40,000 crore in domestic - both brownfield and greenfield - and overseas projects.

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World zinc market in surplus

September 22, 2008: The refined zinc world market recorded a surplus of 22,000 tons in January to July period revealed World Bureau of Metal Statistics (WBMS) recently stated a media report.

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Adani may tie up with cement co for using fly ash

September 18, 2008: Adani Power is considering utilising fly ash to be generated at its 4,620-MW Mundra thermal power plant, due for commissioning in 2009.

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China credit easing to spur zinc prices, feel merchants

September 18, 2008: In China, merchants expect prices of zinc to increase in the coming months on the back of domestic banks escalating lending and providing more cash to end users inspite of large domestic supplies.

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Lowering base metals to help steel industry

September 17, 2008: Slipping industrial metal prices will probably spell good news for the steel, construction and electrical equipment sectors, cable and battery manufacturers, along with transportation and the packaging industry.

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Nickel '08 surplus seen at 26,000 tons: Sumitomo

September 17, 2008: Top Japanese smelter Sumitomo Metal Mining Co Ltd, said that this year it expects the global surplus of nickel to be 26,000 tons on the back of slow recovery in the demand of stainless steel.

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High prices slow down rubber trade

by Nudrat Alim

September 15, 2008: Prices of natural rubber in the spot market stayed strong, slowing down trade activities to a great extent.

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China aluminium, zinc output rebound in July

September 15, 2008: Aluminum and zinc output in China have made a come back in the month of August as compared to July even in spite of previous news that smelters had plans to reduce output to support prices.

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China August copper imports fall from July

September 11, 2008: Chinese imports of unwrought copper and semi-finished copper products declined to 178,047 tons in August from 186,136 tons in July.

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Maithan Alloy to set up 2 manganese alloy units

September 11, 2008: Maithan Alloy plans on investing Rs 350 crore in two new greenfield manganese alloy plants.

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China's Jinchuan cuts 2008 nickel output target

September 10, 2008: China's Jinchuan Group Ltd has cut its production target owing to the delays in a new smelter and it has transformed two other facilities to make copper.

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MP to get new cement units, 38 MoUs inked

September 10, 2008: Madhya Pradesh will get several new cement factories after 38 memoranda of understanding (MoUs) - entailing an investment of Rs 73 crore - were signed at the state's initiative.

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Russia Jan-July nickel export up 0.8%

September 10, 2008: Nickel export from Russia from January to July increased by 0.8 percent as compared to the same period a year ago, informed the federal customs service. The country during this period exported 139,600 tons of nickel.

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Saudi Arabia output helping crude oil price to ease

September 10, 2008: Saudi Arabia's increased production has helped crude oil price to slide to $104.77 per barrel currently from $ 147.27 per barrel prevailing on July 11.

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Nalco shuts down Damanjodi unit on coal shortage

September 9, 2008: National Aluminium Co (Nalco) had lowered production levels for three days last week at its Orissa refinery due to less availability if coal. It shut down one of its three operational boilers on Thursday after finishing its coal stock, of about 10,000 tons.

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Agitation over second polymer freight rate revision

by Dhirendra Pandey & Lokenath Tiwary

September 8, 2008: Revision of freight rates for the second time in two months has made it difficult for buyers and transporters of polymers.

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Ferro manganese continues to soar

by Gilbert Lobo

September 8, 2008: High carbon ferro manganese is continuing to soar in the domestic market with prices crossing Rs 100,0000 per ton and reaching Rs 105,000 per ton.

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Dempo Group to raise Rs 1,500 crore for pet coke arm

September 8, 2008: Dempo Group is targeting raising Rs 1,500 crore by divesting stake in flagship mining company VS Dempo. It will invest the funds in its Goa Carbon petroleum coke business.

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MSTC profit at Rs 92 crore in 2007-08

September 8, 2008: West Bengal's Metal Scrap Trading (MSTC) has gained enormous pace with e-commerce. MSTC chairman & managing director Malay Sengupta said profit stood at Rs 92 crore in 2007-08, a 10-fold growth from Rs 9 crore in 2002-03.

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Vedanta Resources aluminium output may hit 5,00,000 mark

September 5, 2008: Vedanta Resources is upbeat on its aluminium output increasing in the year up to March 2009, up 28 percent from 3,90,000 tons in the previous year. "Vedanta's total aluminium production is expected to be close to half a million tons this year," said chief executive officer (aluminium) Pramod Suri.

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Production of main ferro-alloys in Japan go up in April-June 08

September 5, 2008: The production of the main ferro alloys witnessed a considerable hike during the first quarter of fiscal 2008-09 against the corresponding period last year.

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ENRC ferro chrome production rises 11.64%

September 4, 2008: Kazakhstan based Eurasian Natural Resources Corporation (ENRC) witnessed a rise of 11.64 percent in its production of ferro chrome during the first half of the calendar year 2008 reaching 633,000 tons compared to the corresponding period last year.

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Cement cos may face high coal prices in Q2

September 3, 2008: A supply shortage may raise coal prices and tell on cement companies' margins in the second quarter.

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Hindustan Copper cuts prices by 1%

September 2, 2008: Hindustan Copper aligned with global prices and brought down the basic selling prices of cathode full and cathode cut by over 1 percent or Rs 400 per ton, effective today.

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Coal price fall to help cement cos

September 2, 2008: Cement companies may have heaved a sigh of relief after the recent fall in coal prices but it is still not enough to protect margins.

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Nalco gets 30,000 tons imported coal

September 1, 2008: The first shipment of 30,000 tons of imported coal has arrived for National Aluminium Co Ltd (Nalco) to help it overcome shortages which have forced it to cut alumina output in July.

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Zambia's Jan-June copper output up 8.8%

September 1, 2008: Output of copper in Zambia in January-June increased by 8.8 percent as compared to year earlier, on the back of increased production capacity from its major copper mines, informed the central bank of the country.

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Nickel prices drop on low demand from steel segment

September 1, 2008: The fall in nickel prices could be 25 percent lower this year if orders from European steel producers remain at the current level.

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Cement prices fall in north India

September 1, 2008: Cement manufacturers have had to slash prices by Rs 5 to Rs 10 per 50 kg bag in north India as demand has slipped and supplies piled up.

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Chile July copper output down 5.5%

August 29, 008: Chile's copper output in July decreased by 5.5 percent to 430,361 tons as compared to the same month a year earlier.

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Japan June copper cable shipments up 0.4 percent

August 29, 2008: June copper cable shipments in Japan saw an increase of 0.4 percent on year, informed the Japanese Electric Wire and Cable Makers' Association on August 28.

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Indonesian firm to set up $850-m copper smelter

August 27, 2008: In a recent development, Indonesian metal firm PT Nusantara Smelting Corp is planning to set up a copper smelter next year, which would produce 200,000 tons of copper cathode annually.

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MoEF unable to keep pace with clearance for mining projects

August 26, 2008: Mining projects are stuck in a queue as the Ministry of Environment & Forests (MoEF) tries to sift through the environment-related data furnished by the likes of Sesa Goa, Tata Chemicals, Hindalco Industries and Tata Steel.

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World nickel market in deficit in H1: WBMS

August 26, 2008: In the first half of the present year, the world nickel market was in a 6,600 tons deficit informed the World Bureau of Metal Statistics (WBMS).

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Brazilian copper demand seen rising

August 26, 2008: In the next few years, the demand for copper and finished copper products is likely to grow at a faster pace on the back of the country's economic boom, informed a senior industry official.

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JK Lakshmi to set up 5 ready-mix concrete units by March '09

August 25, 2008: Cement manufacturer JK Lakshmi plans to invest up to Rs 1,000 crore to set up five ready-mix concrete (RMC) plants.

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Australia says yes to Chinalco stake in Rio Tinto

August 25, 2008: Aluminium Corp of China's (Chinalco) recent purchase of a minority stake in Rio Tinto has got the nod from Australia but it has been warned against buying more shares without prior approval.

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World zinc market in surplus: WBMS

August 25, 2008: In the first half of the present year, the world zinc market was in a 53,000 ton surplus revealed the World Bureau of Metal Statistics (WBMS) recently.

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India Apr-Jul Aluminum Output 418,334 Tons Vs 406,918 Tons

August 25, 2008: India's aluminum output for the April-July period witnessed an increase as the state-run and the private companies together produced 418,334 tons of aluminum.

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Hindustan Zinc to put Rs 3,600 cr into phase III expansion

August 22, 2008: Hindustan Zinc (HZL) has said it will invest Rs 3,600 crore through internal accruals in phase III of its expansion plan.

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Exide plans Rs 300 cr expansion

August 22, 2008: Exide Industries plans to invest Rs 300 crore in expansion this financial year.

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Corus to sell aluminium smelters to Klesch & Co

August 22, 2008: Tata Steel subsidiary Corus is in talks with Klesch & Co Ltd to sell its aluminium smelters in the Netherlands and Germany.

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Nalco may face coal supply crisis again

August 21, 2008: Coal shortage could again disrupt output to Nalco units, although operations are normal at present. "We are not able to keep minimum coal stocks," said Nalco chairman and managing director C.R. Pradhan.

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ABG International plans 4.6 mt cement capacities in Gujarat

August 21, 2008: ABG International will go through ABG Cement to set up cement capacities of 4.6 million tons in Gujarat.

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Chile copper export revenue touches $4.031 bn in July

August 19, 2008: Chile's copper exports amounted to $4.031 billion in the month of July as compared with $3.542 billion earned by the country during the same month a year ago, informed the country's central bank.

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Oil prices fall below $113

August 19, 2008: Crude prices settled below $113 a barrel for the first time in over three months yesterday as Tropical Storm Fay steered clear of oil-producing infrastructure in the Gulf of Mexico.

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Kazakhstan copper output down 9.5%

August 19, 2008: Production of refined copper in Kazakhstan witnessed a decrease of 9.5 percent on the year to 216,446 tons during January to July.

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Simplex Infrastructure to focus on risk less ventures

by Rajkumar Mitra

August 19, 2008: With the current boom in infrastructure growth, reaching a global turnover of $1 billion is no big deal for Simplex Infrastructure.

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Organisational restructuring recharges Eveready

by Rajkumar Mitra

August 19, 2008: Eveready, which produces more than half the dry cell batteries of the country, feels its move to bring production planning under the material management functions, has helped to cut down on its working capital needs.

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NMDC-Rio Tinto joins hands

August 19, 2008: Rio Tinto has signed a memorandum of understanding (MoU) with NMDC, the largest mining company in India, to form an equal joint venture to explore minerals in India and abroad.

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Managing inventories based on five guiding principles

by Rajesh Ray

August 19, 2008: Having the right inventory of raw materials, components and packaging items is always a challenge which every materials manager needs to face.

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Data cleansing leads to cost advantage

by Neha Prasad

August 19, 2008: Global competition has ensured that the domestic industry keeps expenditure at a minimum for preserving its position in the markets.

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Purchasers buying routine items through blanket orders

by Rajkumar Mitra

August 19, 2008: With purchasing becoming a more complex activity day by day, purchase departments are procuring more and more routine or revenue items through annual rate contracts or blanket orders, instead of buying them on a case-to-case basis. These routine items are usually fairly easy to source.

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Non-ferrous metals may add to inflation woe

August 18, 2008: Recently the attention on the rising price of steel has masked the relevance of the non-ferrous sector aluminium, copper, zinc and lead which plays an equally important role in user industries such as consumer goods, utility and the transport sectors.

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Chrome ore sales shows signs of weakening

August 18, 2008: Turkish origin chrome ore is showing signs of weakening with prices slipping by $20 a ton to $550 in six months time.

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Aluminium stocks at Japanese ports steady in July

August 18, 2008: Stocks of aluminium at major Japanese ports were steady in the month of July as compared to June as they were down by 0.3 percent a month.

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Southern Copper lowers production target

August 13, 2008: Copper producer Southern Copper has informed that it has lowered its production target for the present year.

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China aluminium exports down

August 12, 2008: Exports of unwrought aluminum in China declined 24 percent to 93,441 tons from 123,538 tons in the month of June.

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Russian nickel producer cuts production by half

August 11, 2008: Russia's Industrial-Metallurgical Holding has cut its nickel production by half at its 14,000-ton Ufaleynickel plant owing to rising energy costs, informed a spokesperson of the company.

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Chile's Codelco plans to acquire two copper mines

August 8, 2008: Chilean copper producer Codelco said that it is weighing its options of buying two copper properties in Chile's rich northern province from Enami a small government-run mining company.

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Russia Jan-June copper export down 30.2%

August 8, 2008: This year during January-June, Russia's copper export declined 30.2 percent to 83,300 tons informed the country's federal customs service.

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Cement cos fear bearish times ahead

August 8, 2008: Cement companies feel excess capacity will keep prices at low levels, despite the demand rising from various new infrastructural projects.

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Copper stays firm, nickel up 4%

August 8, 2008: Copper futures traded steady on July 7 as rising stocks and a slackening demand situation continued to shake investor faith in industrial metals.

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Xstrata targeting twice as much nickel in 5 yrs

August 7, 2008: Mining company Xstrata plc is aiming at doubling production of nickel production within the next five years, informed a senior executive.

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Inflation brings trouble to packaging sector

August 7, 2008: Inflation is rubbing out the already thin margins of the packaging industry. Corrugated box manufacturers are trying hard to keep prices low despite the continuous increase in costs of raw materials and manufacturing. This is giving rise to heavy losses.

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Base metals may lose strength

August 7, 2008: The remainder of the year is likely to see base metals prices lose. According to London-based Natixis Commodity Markets, this slip will be maximum in lead, nickel and zinc and may spread to other metals.

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Global Nickel Disruptions Equal To 5 pct Of 1H Demand - Xstrata

August 7, 2008: Disruption of nickel supply and reductions resulting due to strikes, energy constraints, declining output of pig iron and maintenance shutdowns have added up to about 70,000 tons in the first half of the year which is nearly 5 percent of the global nickel demand informed diversified mining company Xstrata PLC on August 6th .

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Worries deepen for cement industry

August 6, 2008: The cement sector is facing trouble ahead, with GDP growth slipping and over 70 million tons (mt) of fresh capacity set to come up in the next two years.

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Nalco still 'struggles' for coal

August 6, 2008: National Aluminium Company Ltd (Nalco) is still facing coal paucity, though its 1.6 million tons (mt) alumina refinery in Damanjodi, Orissa is running at optimum capacity nine days after it scaled down production due to fuel shortage.

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ONGC gets shipping ministry relief

August 5, 2008: Oil & Natural Gas Corporation (ONGC) has been granted relief by the shipping ministry on the age of vessels it hires.

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Production as usual at Nalco unit

August 5, 2008: National Aluminium Co Ltd (Nalco) has resumed normal production at its alumina refinery, which was hit by a coal shortage last week.

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Peru's metals production up in June

August 5, 2008: Peru's output of copper, zinc and other metals witnessed an increase in the month of June as compared to the same month of the previous year, informed the Energy and Mines Ministry on August 3.

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Orient Paper scouts for new cement markets

August 5, 2008: C.K. Birla group firm Orient Paper & Industries (OPIL) is looking for fresh local markets for its cement business.

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Chile copper production up 2.5% in June

August 1, 2008: Copper producer Chile saw an increase of 2.5 percent in production in the month of June.

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China's Western Mining cuts 2008 zinc output

July 31, 2008: China's second largest miner, Western Mining, decreased its zinc production forecast affected by rising cost, plant outages and limited power supplies.

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MP, Birla Corp ink MoU for cement unit

July 31, 2008: The M.P. Birla Group flagship Birla Corporation Ltd will invest Rs 1,200 crore into a 3-million-ton (mt) cement plant in Madhya Pradesh, near its existing unit at Satna, within two years.

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China zinc mining faces Olympics hurdle

July 31, 2008: Supplies are tight for lead and zinc concentrate in China because of security controls on explosives ahead of the Olympic Games in August, combined with tight transport and ongoing crackdowns on small mines and polluting factories.

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Inmet may miss copper output target

July 30, 2008: Inmet Mining Corp. expects a 10.5 percent drop in the production target of copper for the year 2008.

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New capacity eases supply constraints, bulk cement prices dip

July 30, 2008: Several new capacities which have come onstream in the past few months have been affecting cement prices. Bulk cement is bought by construction companies directly from cement manufacturers and its price has slipped about Rs 100 per ton.

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World copper mine output up 26% in 10 years: ICSG

July 30, 2008: In the last 10 years ending 2007, the world copper mine output increased 26 percent to record 15.4 million tons, the International Copper Study Group (ICSG) informed on July 28.

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Ispat to set up 2 mt cement unit in MP

July 30, 2008: Ispat Industries is gearing up for a new 2 million tons (mt) cement plant in Madhya Pradesh with an investment of about Rs 700 crore, according to a company official.

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Nalco may shut plant on coal shortage

July 29, 2008: The National Aluminium Company Limited (Nalco) may have to shut its plant owing to coal shortages.

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Cement prices likely to ease as trains to Pakistan increase

July 29, 2008: The Indian Railways will run more goods trains between India and Pakistan on the Attari sector to boost supply of cement.

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Three aluminium projects get Orissa govt nod

July 29, 2008: Orissa gave phase I clearance on July 26 to three projects with investment proposals worth Rs 42,813 crore in an effort to uplift the aluminium sector, according to official sources.

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Hindustan Zinc raises lead prices, keeps zinc unchanged

July 28, 2008: Hindustan Zinc Ltd (HZL) has raised prices of lead to keep up with global prices.

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BHP Billiton achieves rise in production

July 28, 2008: BHP Billiton (BHPB) registered a rise in their output of manganese ore and manganese ferro-alloys in the financial year which ended on the June 30, compared to the figures in the corresponding period of 2006-07.

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Southern Copper sees 245,000 tons copper output In H2

July 28, 2008: Southern Copper Corp. (PCU) on July 25 forecast 245,000 tons of copper production from all its operations in the second half of 2008.

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GACL, Dow plan JV for Rs 600 crore Dahej unit

July 25, 2008: Vadodara-based Gujarat Alkalies & Chemicals (GACL) and the US' Dow Chemicals have joined hands for a Rs 600 crore plane in Dahej. The unit is slated to produce 2 lakh tons per annum of the chlormathan group of chemicals.

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Base metals trade lower on LME

July 25, 2008: Base metals were traded lower on the London Metal Exchange (LME) on July 24.

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Weak global markets bring local copper futures down

24 July, 2008: Copper prices fell 0.61 percent in early trade on Thursday in the futures market on weak global cues and a stronger US currency against the euro.

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Russia's Chelyabinsk Zinc raises H1 output 5.5%

July 24, 2008: Russia's Chelyabinsk Zinc Plant which produces nearly two-thirds of the country's zinc informed on July 21, that in the first six months of the present year it had boosted output by 5.5 percent.

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Kumar Mangalam fears slower growth in cement sector

July 24, 2008: The cement sector is likely to witness a production growth of 6 percent in the current fiscal, according to Aditya Birla Group chairman Kumar Mangalam Birla. The growth will be the lowest since 2004-05.

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Orissa stumbles despite rich bauxite reserves

July 24, 2008: Orissa is finding it difficult to unlock the value in its rich bauxite deposits. The state has about 60 percent of domestic reserves located within its territory and has inked 49 memoranda of understanding for staring steel plants with a proposed investment of Rs 3 lakh crore.

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India Cements plans all-India presence

July 24, 2008: India Cements Ltd, the manufacturer of popular brands such as Sankar and Coromandel, is planning to achieve an all-India presence.

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Rubber plantations reel under labour shortage

July 23, 2008: Labour shortage is likely to hit rubber plantations this year. The growers in Kerala are facing this crisis with no solution in sight. The problem is particularly severe in Kottayam, Pathanamthitta and Ernakulam.

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Slow replantations to cut rubber output

July 22, 2008: Industries ranging from tyre and auto components to footwear which use natural rubber (NR) as a raw material may face a supply bottleneck. This is because the natural rubber replantation rate in India has been on the decline over the last four years.

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Q1 cement despatches rise

July 22, 2008: Despite cement despatches of frontline companies improving in the first quarter of 2008-09, steep rise in input cost is expected to exert pressure on the bottomlines.

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Copper futures marginally up

July 22, 2008: The country's copper futures were marginally higher on the Multi Commodity Exchange of India Ltd (MCX) on July 21, but a supply overhang and a suspended strike in Peru, put a bearish pressure, an analyst said.

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Ckoramaandel Cements Q1 net flat

July 21, 2008: Ckoramaandel Cements posted a marginal 1.68 per cent increase in its net profit for the first quarter ended June 2008 at Rs 4.23 crore against Rs 4.16 crore in the year-ago period.

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Nissan Copper plans copper tube unit in Silvasa

July 21, 2008: Mumbai-based Nissan Copper Ltd. plans to set up a greenfield plant of 12,000 tons per annum, near its existing manufacturing facility at Silvasa.

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Gujarat NRE Coke net up two-fold

July 21, 2008: Low-ash metallurgical coke manufacturer Gujarat NRE Coke has posted a net profit of Rs 94.4 crore for the quarter ended June 30, more than two-fold rise over the corresponding period last year.

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China refinery output increases

July 21, 2008: Boosted by a surprise increase in fuel retail price in June 2008, Chinese output of refinery have recorded an increase of 10 percent in the month of June, according to an official data published last Friday.

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UltraTech Cement Q1 net flat at Rs 265 crore

July 21, 2008: UltraTech Cement, part of the Aditya Birla group, has posted a 2 percent rise in its net at Rs 265 crore for the quarter ended June 30, 2008 as compared to Rs 259 crore it posted in the first quarter of FY 2008.

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Cement sector may slow down: Birla

July 21, 2008: Aditya Birla group chairman Kumar Mangalam Birla on July 18 painted a bleak outlook for the cement sector when he said that high costs and inflation have affected construction and could pull down growth in the local cement industry, considered to be the world's second largest market after China.

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China clears expansion plan for Sinopec Shanghai ethylene

July 21, 2008: Sinopec Shanghai Petrochemical, China's largest integrated chemicals firm, has won government approval to add 450,000 tons per year (tpy) ethylene capacity, an official website reported on July 17.

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Lafarge's Bengal cement unit to be operational from Sept-Oct

July 21, 2008: The 1-million-ton greenfield plant by French cement-maker Lafarge at Mejia in West Bengal is likely to begin commercial production by September-October.

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TNPL to focus on export

by Dhirendra Pandey & Lokenath Tiwary

July 18, 2008: Tamil Nadu Newsprint and Papers Ltd (TNPL) plans to focus on export and increase the production capacity of printing and writing paper (PWP), keeping in mind the growing global demand.

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Kesoram Ind to invest Rs 2150 cr on expansion

by Sarbani Haldar

July 18, 2008: Kesoram Industries Ltd, the flagship company of the B.K. Birla group, plans to invest Rs 2150 crore on expansion of its facilities.

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Rising sulphuric acid rates affects Tc Rc negotiations of copper smelters

by Rajkumar Mitra

Rising sulphuric acid price is currently affecting the negotiation capabilities of copper smelters for imported copper metal-in-concentrate (MIC) with miners.

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Cost reduction no longer an organisational goal

by Rajkumar Mitra

July 18, 2008: The age old concept of cutting cost of purchases to improve the company bottomline is dying out fast globally.

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Cement makers likely to slash capacity by 8% this year

July 18, 2008: ACC, UltraTech Cement and other Indian cement makers may cut capacity utilisation by as much as 8 percent in the financial year ending March 2008 as demand slows and new capacities are added, industry experts and analysts said.

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Hindustan Zinc cuts zinc price, raises lead prices

July 18, 2008: Hindustan Zinc Ltd (HZL), the country's largest producer of the metal, on July 17 said it has reduced zinc prices by Rs 3,400 a ton and raised lead prices by Rs 2,800 a ton.

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Nalco to import coal to avoid reducing output

July 18, 2008: The National Aluminium Company (Nalco), which had cut production last month because of coal shortage, plans to import 100,000 tons of fuel to prevent another disruption at a time when prices of the lightweight metal are record high.

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Polymer prices rise on soaring crude

by Arusha Das

July 18, 2008: Strong crude oil price has driven naphtha prices northwards, leading to a cost push for ethylene and polyethylene in June.

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Cement prices rise on increase in diesel prices

July 18, 2008: Cement prices rose nearly 3.5 percent on an average throughout the country in July following an increase in transportation cost due to increase in diesel prices in the first week of June, traders and retailers said.

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Nickel prices fluctuate sharply

by Arnab Mallick

July 18, 2008: Nickel witnessed a roller coaster ride this June. After initial increase of spot price from $21605 per ton as on June 2 to $24550 per ton on June 13, the market corrected quite sharply and ended at $21675 per ton on June 30, thereby registering a marginal appreciation of 0.32 percent during the month.

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Zinc prices decline on rising inventories

by Arnab Mallick

July 18, 2008: After experiencing massive hammering in May, zinc tried to exhibit some strength at major exchanges in June.

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Aluminium prices rise steadily

by Arnab Mallick

Maintaining its strength in May, aluminium rose steadily this June at the London Metal Exchange (LME). LME spot official price closed at around $3075 per ton on June 30, thereby appreciating by over 7.60 percent during the month.

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Indian phenol consumers depend heavily on imports

by Nudrat Alim

July 18, 2008: The global phenol industry is booming, triggered off mainly by the large scale downstream expansions which are taking place throughout Asia. India is slowly emerging as one of the significant contributors to this growth in demand.

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Benzene price inching up

July 18, 2008: Benzene import rates moved up by as much as 17 percent in end June 2008 compared to prices prevailing at the beginning of last month, fuelled by high crude oil prices.

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Concern over slowdown in Chinese demand for copper

by Arnab Mallick

July 18, 2008: One of the major concerns at the moment is the slowdown in China demand for copper amidst slowing global economy.


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Copper price rise unlikely to continue

by Arnab Mallick

June 18, 2008: Copper rallied quite a bit this June after facing some hammering the previous month. Copper cash price at the London Metal Exchange (LME) increased by nearly 10 percent in June, from $7980 per ton on June 2 to $8775.5 per ton on June 30.

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Ammonia prices rise on supply shortage

by Rajkumar Mitra

July 18, 2008: Ammonia prices rose substantially in June 2008 over last month's prices, essentially driven by shortage of ammonia in the Asia-Pacific region.

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Rubber exports go up on increased output

by Nudrat Alim

July 18, 2008: Large scale production of natural rubber in the month of June has led to an increase in exports. Exporters have been encouraged to ship out more rubber, expecting better returns, owing to the price differential between international and domestic markets.

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Polymer manufacturers plan 40% capacity addition in three years

July 17, 2008: Polymer makers in the country are set to expand their capacity by a whopping 40 percent in the next three years, leading to large-scale job creation and increase domestic consumption of plastics.

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China's zinc majors refuse to back production cut

July 17, 2008: Large zinc smelters in China, on July 17 declined to join output cuts proposed by smaller producers, but agreed to a moratorium on new projects for the rest of 2008.

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Base metal prices may dip in 2nd half: EIU

July 17, 2008: The average prices of base metals are likely to fall by 5 percent in the second half of the year on weakening demand from major industrial countries and economic slowdown in the US.

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Reliance sells total 540,000 tons term gasoline

July 16, 2008: Reliance Industries sold a total 540,000 tons of term gasoline supplies to two buyers at discount levels for the second half thereby adding on to an already well-supplied Asian market, traders said on July 16.

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Mixed trend in metal prices

July 16, 2008: Prices of tin, copper cable and copper wirebar moved up in a mixed non-ferrous metal market on July 15th due to good industrial demand. While zinc and copper utensils eased, owing to lack of demand from industrial users.

Copper cable scrap rose by a rupee per kg to Rs 389 and copper wirebar by a rupee per kg to Rs 417.

Source: Business Line

ACC may invest Rs 150 cr in RMC biz

July 16, 2008: Associated Cement Companies (ACC) is betting big on its ready-mix concrete (RMC) business. It plans to double its RMC units to 46 this year. The ACC spokesperson confirmed the development. Sources said the company would need to invest Rs 150 crore to achieve this target.

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Nalco readies $4 bn war chest for global play

July 16, 2008: National Aluminium Company (Nalco) is readying a war chest of over $4 billion to set up aluminium smelter and power plants in Iran and Saudi Arabia. The company has proposed a joint venture with Iran's Aluminium Pars Hanza (ALPHA) for a 1.55 lakh metric ton aluminium smelter plant in the first phase at an investment of $1 billion. In Saudi Arabia, Nalco has proposed an investment of $3 billion in a 5 lakh metric ton smelter and 5,000 mw power plant.

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Lafarge to invest $1 bn in India expansion

July 15, 2008: French cement maker Lafarge plans to invest $1 billion over five years to expand its cement capacity in India to about 20 million tons, a media report said on July 15, citing sources.

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Zinc gains on China output cuts

July 15, 2008: Zinc has posted smart gains in both international and domestic markets over the last couple of trading sessions, buoyed by high energy prices and an expected cut in Chinese production.

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ADAG eyes cement acquisition

July 14, 2008: The Reliance-Anil Dhirubhai Ambani Group (ADAG) is looking for acquisitions to start its cement business much before it completes its 4,000-MW mega power project at Sasan in eastern Madhya Pradesh, which is to provide the fly ash that is used to make cement.

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Polymer export curbs unlikely

July 11, 2008: Export curbs or duties on petrochemical products like polymers are unlikely immediately, though the government is considering such an action to contain inflation, according to the Indian Plastics Federation (IPF).

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Nalco gets only one bid for Iran plan consultant

July 11, 2008: The US sanction on Iran is looming large on the proposed National Aluminium Company Ltd (Nalco) project in the country.

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India June cement shipments up 8.7% y-o-y

July 11, 2008: Cement shipments rose 8.7 percent in June from a year ago, data from the Cement Manufacturers' Association (CMA) showed.

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Sterlite reaches agreement with Asarco unions

July 11, 2008: Sterlite Industries (India) said that it has reached an agreement with the unions representing the workers of the US-based integrated copper refining company Asarco.

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China Aluminum Exports Surge in June; Copper Imports Down

July 10, 2008: Exports of aluminum and alloys from China have witnessed a rise to the highest in almost two years due to soaring global prices.

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Moderate fall in metal prices on lower LME advices

July 10, 2008: Prices of copper, nickel, lead and brass declined moderately on the non-ferrous metal market here on 9th July due to lack of industrial demand coupled with lower advices from London Metal Exchange (LME).

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Dearer diesel, CIL move set to hit cement sector

July 10, 2008: The cement industry, already reeling under the weight of spiralling input costs and continued government intervention, is headed for a tougher time owing to rise in rates of diesel and packaging bags and the new supply conditions laid down by Coal India.

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FM to discuss polymer price with industry

July 10, 2008: Finance Ministry has called a meeting with the representatives of petro-chemical industry, including Reliance Industries, on July 10th to discuss the rising prices of polymers, which is used in the manufacturing of plastic and synthetic textiles.

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Better Q1 growth rate expected for metals

July 10, 2008: The metals sector is all set to begin the current financial year with a moderate set of numbers for the first quarter.

The year-on-year growth rate is expected to be better compared to that in the year-ago quarter. However, on a quarter-on-quarter basis, analysts expect lower sales and the net profit, given the government's decision in the second week of May to curb steel prices in order to check inflation. Further, analysts expect sales growth to be tepid in the June quarter as against the March quarter, which traditionally records higher volumes.

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BEML bags Rs.2 bn mining equipment export orders

July 10, 2008: India's leading mining and construction equipment maker Bharat Earth Movers Ltd (BEML) has bagged orders worth Rs.2.07 billion to export hydraulic excavators, rear dump trucks and bulldozers to Indonesia.

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Copper may hit a low patch as China curbs use

July 10, 2008: Global copper prices are expected to be subdued until September because of reduced industrial demand from China, analysts said. Chinese copper demand is likely to decline as the country plans to curb industrial pollution in and around Beijing, where the 2008 Summer Olympics will be held next month, they said.

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Copper scrap imports decline

July 9, 2008: Used copper and seconds were brought under the hazardous material category and norms governing their imports were made stringent three years ago.

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Miners start to manufacture manganese alloy

July 9, 2008: With the rising manganese alloy price, manganese ore producers are finding it more profitable to switch tracks and enhance value addition by manufacturing the alloy itself.

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Miners start to manufacture manganese alloy

July 9, 2008: With the rising manganese alloy price, manganese ore producers are finding it more profitable to switch tracks and enhance value addition by manufacturing the alloy itself.

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Miners start to manufacture manganese alloy

July 9, 2008: With the rising manganese alloy price, manganese ore producers are finding it more profitable to switch tracks and enhance value addition by manufacturing the alloy itself.

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Aluminium falls from record after surge on China supply concern

July 8, 2008: Aluminium registered a drop from a record in Asian trade following its hike on July 7, owing to decreased output from China, due to power shortages.

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Vedanta arm plans Orissa refinery expansion

July 8, 2008: Vedanta Aluminium (VAL), a part of the Vedanta group, plans to expand capacity of its existing alumina refinery in Lanjigarh, Orissa, to 6 million tons (mt) from the current 1 mt at an investment of around Rs 7,000 crore.

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Oil hit for packaging industry

July 8, 2008: High and volatile crude prices have hit the corrugated packaging industry very hard.

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Nickel futures down at MCX

July 8, 2008: Nickel prices fell 0.50 percent to Rs 894.50 per kg in opening trade on July 7 on the futures market on some selling by traders.

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Copper futures up on global cues

July 8, 2008: Copper prices moved up by 0.52 percent in the domestic futures market on July 7, largely on speculative buying, tracking firm global markets.

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Nickel, zinc soften on sluggish demand

July 8, 2008: Wholesale prices of nickel and zinc were down between Re 1-10 each per kg in the national capital on July 7, due to reduced demand from consuming industries.

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Aluminium futures up 2.27% on global cues

July 8, 2008: Aluminium prices rose 2.27 percent in the futures market on July 7, due to firming trends in global markets.

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Nalco could gain from taking greater risk

July 7, 2008: As is commonly the practice of government undertakings in this country, National Aluminium Company (Nalco), owning Asia's largest integrated aluminium complex, would rather err on the side of caution than take the risk of selling most of its surplus alumina, the smelter feedstock, in the world spot market by inviting tenders for lots.

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India Cements bucks slowing industry trend

July 7, 2008: At a time when the domestic cement industry is reeling under the pressure of rising input costs and declining net realisation per ton of cement, India Cements, the country's fourth largest cement maker, has registered a 6.32 percent rise in net realisation in June quarter.

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Binani Cement plans supply pact with builders

July 7, 2008: Binani Cement, the flagship company of the Rs 1,700-crore Binani group, is considering long-term bulk cement supply contract with real estate developers including Raheja and Hiranandani.

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Sulphuric acid price rises again

July 4, 2008 - Sulphuric acid (98 percent concentrate) is currently sold at an ex-work price of Rs 13,500 per ton. In June, the acid was sold at Rs 12,500 per ton. Price of this acid was around Rs 11,000 in April 2008 according to an acid manufacturer.

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Ferro silicon benchmark rates declared

July 4, 2008: The Chinese government declared the benchmark export rates for calculating ferro silicon export duty on July 4, according to the ferro-alloys.com website.

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HCL raises prices marginally

July 4, 2008: Hindustan Copper (HCL), has again raised the provisional basic selling prices of its products to match the global levels.

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Copper mine output to grow by 5%: Study

July 4, 2008: The global copper mine production will grow at an average rate of 5.2 percent per annum to reach 23 million tons (mt) in 2012, says an inter-governmental forum.

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Aluminium futures up on MCX

July 4, 2008: Aluminium prices rose 1.80 percent in early trade on the futures market on July 3 on increased buying by traders.

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Base metals down on MCX due to bearish fundamentals

July 4, 2008: Prices of nickel and other base metals today fell on the futures market on increased selling pressure due to weak market sentiment amid rising inventories.

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Sterlite Asarco deal hits another block

July 3, 2008: Vedanta Group firm Sterlite suffered a setback on July 2, in its $2.6-billion bid for bankrupt copper miner Asarco with a US bankruptcy judge allowing Asarco's parent Grupo Mexico to come up with a revival package.

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Cement firms rethink expansion plans

July 3, 2008: The domestic cement industry, which has planned projects worth Rs 50,000 crore by 2010, is having second thoughts on expansion plans as the country's economic growth is expected to slow down.

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Natural rubber production surges 43% in June

July 3, 2008: The production of natural rubber rose by 43 percent to 62,000 tons in June 2008 against 43,480 tons in the year-ago period, according to the Rubber Board's provisional data.

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Ambuja Cement's production rises 5% in June

July 2, 2008: Ambuja Cements on July 1 reported a 5 percent increase in production at 14.79 lakh tons for June, against 14.10 lakh tons in the year-ago period.

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Manaksia eyes Polish alloy co

July 2, 2008: Manaksia, a Kolkata-based maker of aluminium products, is in talks to buy a Polish aluminium alloy company having a turnover of roughly e130 million, approximately Rs 900 crore.

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Cement prices to go up by Rs 3 next week

July 2, 2008: Cement prices are likely to go up by Rs 3 per bag in Mumbai, Gujarat and the southern markets effective July 1. Other markets in the country are expected to follow suit later.

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Ferro silicon prices drop

July 2, 2008: Ferro silicon prices have dropped in the domestic market with the onset of the rainy season.

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Plastics manufacturers want waiver of customs duty on polymers

July 1, 2008: The Andhra Pradesh Plastics Manufacturers Association (APPMA) has urged the Union government to bring down the custom duty on polymers from the existing 5 percent to nil.

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Credit crunch slows cement cos' expansion plans

July 1, 2008: Costlier raw material and tight credit conditions have slowed down the cement companies' ambitious Rs 50,000-crore expansion plan to add 80 to 90 million tons capacity in three years.

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Copper futures up on global cues

July 1, 2008: Copper prices gained 1.30 percent in the futures market in early trade on June 30, as market participants indulged in buying in line with firming trend in overseas markets.

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Cement cos say demand to cushion margin squeeze

June 30, 2008: Indian cement industry expects margins to be under pressure this fiscal due to higher input costs and inflation but demand from the infrastructure sector will cushion the impact, officials said.

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Zinc resumes weekly slide

June 27, 2008: Zinc declined for the fifth time in six weeks owing to concerns that supply may outpace demand with increased production in the midst of high global inventories.

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Hind Copper applies for recce permit in MP

June 27, 2008: Enthused by a rise in net profit in 2007-08, Hindustan Copper Ltd (HCL) has submitted an application with the government of Madhya Pradesh for reconnaissance permit for an area of 1,600 sq km in the district of Balaghat.

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Tribals want scrapping of Rajgangpur conveyer belt project

June 27, 2008: Tribals on June 26 staged a demonstration at Rajgangpur near Rourkela demanding cancellation of a conveyer belt project of a cement plant, saying it would increase pollution in the area.

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Tatas, Nalco to join hands for $3-bn aluminium plant in SA

June 27, 2008: The National Aluminium Co Ltd (Nalco) and the Tatas are all set to ink a joint venture agreement to set up a $3-billion aluminium smelter and power plants in South Africa (SA).

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Hind Copper to trade at LME

June 27, 2008: Hindustan Copper Ltd (HCL) will soon start trading its copper cathodes on the London Metal Exchange (LME), as a part of its strategy on risk management in the form of hedging and price discovery.

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Copper futures may remain weak

June 27, 2008: Copper futures and spot prices on the national exchange platform may remain weak in the second half of 2008 mainly on rising output in China and major mines across the globe, reduced imports by China and higher exchanges stock.

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Global surge in magnesium demand

by Dhirendra Pandey & Lokenath Tiwary

June 27, 2008: The magnesium market is growing at an unexpected pace. In 2004, the global demand for magnesium was expected to be 500,000 tons by 2010, but that figure has already been surpassed.

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Forgings: Greater focus on non-auto sector

June 27, 2008: The Indian forgings industry is witnessing a sea change, with more and more companies in this sector, diversifying into the non-automotive segment. Till now almost 70 to 80 percent of the supplies were directed towards the automotive sector and the remaining went to the non-automotive sector.

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Cement firms likely to face margin pressures

June 27, 2008: A growth of 20 percent in the installed capacity of cement in the past 14 months has resulted in capacity outstripping current demand, feel analysts and manufacturers.

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Kesoram Industries bets big on tyre and cement

June 26, 2008: Kesoram Industries Limited, a B.K. Birla flagship company, will invest Rs1600 crores to expand its tyre making facility and Rs 550 crore to expand its cement manufacturing facility.

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Kesoram Industries bets big on tyre and cement

June 26, 2008: Kesoram Industries Limited, a B.K. Birla flagship company, will invest Rs1600 crores to expand its tyre making facility and Rs 550 crore to expand its cement manufacturing facility.

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Box makers to go on strike

June 26, 2008: Unable to absorb the rising kraft paper prices, the Federation of Corrugated Box Manufacturers of India (FCBMI) with a membership of 1,600 corrugated box manufacturers, has decided to go on a three-day strike starting on June 29 across the country.

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Lead demand to rise by 15%

June 26, 2008: India's lead demand is likely to increase by 15 percent this year on growing demand for batteries from the automobile, inverter, and computer companies.

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China May copper demand falls

June 25, 2008: The apparent consumption of refined copper in China dropped 10.2 percent in May as compared with April, as high output and weakening export markets restricted import demand from the world's top consumer of the metal.

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Zinc market in 64,000-ton surplus in Jan-Apr 2008

June 25, 2008: The world zinc market witnessed a surplus of 64,000 tons during January to April 2008, the World Bureau of Metals Statistics (WBMS) informed on June 25.

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China may raise zinc imports to meet supply needs

June 25, 2008: China may import 20,000 tons to 40,000 tons of zinc in the next few weeks, stated a foreign news agency report quoting BNP Paribas' David Thurtell.

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Chinese chemical production ban may make way for Indian exporters

by Dhirendra Pandey & Lokenath Tiwary

June 25, 2008: The Indian chemical industry may step in to fill the gap, with Beijing's Municipal Public Security Bureau regulating the production and sale of as many as 257 chemicals in and around the capital ahead of the Olympics.

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Indian phosphate producers importing finished product

by Rajkumar Mitra

June 25, 2008: High raw material prices, along with reduced availability, have made it difficult for domestic phosphate producers to manufacture fertilizers according to the production targets stipulated by the government.

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Balmer Lawrie lubricant division strives for input material

by Rajkumar Mitra

June 25, 2008: The grease and lubricant division of Balmer Lawrie is planning to substitute their use of mineral oil, popularly called base oil, to sustain their grease and lubricant business.

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Copper generates heat as supply crunch looms

June 25, 2008: Copper prices which reached at a five-week high in the global markets, continued to surge with analysts anticipating breaching of the March-high of $8,800 per ton in the near-term.

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Ckoramaandel Cements to invest Rs 700 cr in expansion

June 25, 2008: Ckoramaandel Cements Ltd will invest Rs 700 crore in brownfield expansion of its production capacity in two phases over the next two years.

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Sagar Cements, French giant Vicat join hands

June 25, 2008: Sagar Cements is partnering Vicat SA of France for setting up a 5.5 million tons cement plant in Gulbarga, Karnataka.

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JK Tyre to increase prices by 6%

June 24, 2008: Reeling under high input costs, JK Tyre on June 23, said that it will increase the rates of its tyres by up to 6 percent in the next 45 days.

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Oman, Indian firm sign joint venture for aluminium plant

June 24, 2008: The Oman government has entered into a joint venture agreement with an Indian company to set up an aluminium plant in the Gulf nation.

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Base metals recover

June 23, 2008: Select base metal prices such as tin, nickel and copper recovered in the range of Rs 5 to Rs 10 per kg in the national capital on fresh buying by stockists following firming trend at London Metal Exchange (LME).

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Copper declines for first day as protest in Peru ends

June 20, 2008: Copper slipped for the first day in three in Asia as the government of Peru and regional officials reached an agreement to finish a 10-day protest over the mining-tax income for local governments, reducing the supply concerns.

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NALCO may cut output due to coal shortage

June 20, 2008: The National Aluminium Co Ltd (NALCO) may cut production if coal shortages continue, a senior official said on June 19, raising prospects of tighter spot market supply.

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Plastic producers cry foul over rise in raw material prices

June 20, 2008: About 20 plastic manufacturers' associations from across the country held a meeting with Reliance Industries officials to register their protest against frequent price rise in polymers, raw material for plastic manufacturing.

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Cement production to grow by 11.5% in FY09

June 19, 2008: Fresh capacity additions would boost cement production, enabling it to grow by 11.5 percent in FY09, the Centre for Monitoring Indian Economy (CMIE) said in its monthly review in Mumbai.

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Gujarat Foils to invest Rs 120 crore on expansion

June 19, 2008: After acquiring a controlling 60 percent stake in aluminium foils maker Gujarat Foils for Rs 33 crore, Topworth Group of Companies on 18th June said promoters of the company will now invest Rs 60 crore in two phases for capacity expansion.

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Input costs unlikely to cool off for cement firms

June 19, 2008: After being badly bruised by the surge in input costs and the inability to pass them on to customers owing to government pressure, cement companies have more worries ahead.

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Aluminium futures up on MCX

June 19, 2008: Aluminium prices rose by 1.85 percent to Rs 129.40 per kg during early trade in the domestic futures market due to increased buying at lower levels and firm global market.

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Chettinad Cement plans new plant in Karnataka

June 18, 2008: Chettinad Cement Corporation Ltd plans to set up a 2.5 million tons a year cement plant and a 30-MW captive power plant in Gulbarga district of Karnataka, it has informed.

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Rubber prices recover

by Nudrat Alim

June 18, 2008: The rain Gods have finally brought about the much awaited relief for the rubber growers in India.

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Dry bulk rates on a high

by Sarbani Haldar

June 18, 2008: Dry bulk rates continued to remain high , and freight rates of transporting cargo by sea touched high levels during the month of May.

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Dry bulk rates on a high

by Sarbani Haldar

June 18, 2008: Dry bulk rates continued to remain high , and freight rates of transporting cargo by sea touched high levels during the month of May.

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Cement prices remain firm

June 18, 2008: Average cement prices rose marginally across all cities in the month of May, despite the stringent measures announced in mid-April and also in May.

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Zinc prices remain weak

by Arnab Mallick

Maintaining last month's trend, zinc once again showed its weakness in May primarily on the back of weak fundamentals.

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Nickel supply likely to outpace demand

by Arnab Mallick

June 18, 2008: Just like most of the base metals, nickel also witnessed quite a bit of hammering this May, after remaining steady last month on the back of rising supply, high stocks and lower than expected consumption from the stainless steel industry, the largest consumer of the metal.

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No fixed trend in copper prices

by Arnab Mallick

June 18, 2008: Copper prices witnessed some hammering this May. There were obvious signals that supply disruptions that arose out of the labour strike at Chile was easing and consequently, easing of the pressure on price was expected.

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Uptrend in polymer prices likely to continue

by Arusha Das

June 18, 2008: Spiralling crude oil prices has set a higher price tone for polymers in May, which is likely to continue in the month of June. Polymers, a by-product of crude oil, has recorded a massive hike in May in view of the soaring input cost.

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Aluminium prices go up steadily

by Arnab Mallick

June 18, 2008: Aluminium price witnessed quite a bit of movement this May. As expected, price went up steadily on the London Metal Exchange (LME) during most of the trading sessions in May.

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Crude oil in no mood to stabilise

by Rajkumar Mitra

June 18, 2008: The average Indian crude oil price was $120.91 a barrel in May 2008, compared to $105.77 a barrel in April 2008.

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Benzene prices up

June 18, 2008: Benzene import rates climbed rapidly to 14 percent in end May 2008 compared to last month's prices, boosted by zooming crude oil prices.

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Ammonia prices drop for reduced buying

by Rajkumar Mitra

June 18, 2008: Purchase departments of domestic fertiliser companies at last have something to cheer about. Ammonia import prices have dropped by as much as 15 percent in the month of May 2008 compared to last month's prices.

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Asarco buy: Sterlite may retaliate legally

June 17, 2008: Sterlite Industries, the flagship firm of London-listed Vedanta Resources, may consider legal action if the bankruptcy court favours Grupo Mexico's counter-offer of $4.1 billion for Asarco, the US copper mining giant.

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Base metals strengthen on MCX

June 17, 2008: Prices of base metals, led by copper, rose in opening trade on the futures market on June 16th as traders covered up their short positions.

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Rival bid queers Sterlite pitch

June 16, 2008: A rival bidder has suddenly challenged Sterlite Industries' takeover of Asarco Llc, a $2.6-billion transaction that seemed closed till now.

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Base metals may trade mixed

June 16, 2008: The base metals are set to display a mixed trend next week.

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Cement, steel costs cripple infra sector

June 16, 2008: The construction and infrastructure sector is feeling the heat of rising cement and steel costs following a steep increase in the prices of these primary inputs.

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Copper little changed in Asia before industrial production data

June 16, 2008: Copper traded showed slight change in Asia around $8,000 a ton while investors were waiting for the economic data in the world's two largest consumers of the metal to measure the demand, stated a foreign news agency report.

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Hind Copper`s ventures in need of govt support

June 16, 2008: There is consensus on the United States Geological Survey (USGS) observation that global use of copper will continue to rise at an annual rate of 3.1 percent to 27 million tons by 2020. But the demand growth in copper, as in the case of other base metals, will be mostly on account of China and India.

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Deccan Cements embarks on Rs 432 cr capacity expansion

June 16, 2008: Deccan Cements Ltd has embarked on a Rs 432-crore capital expenditure plan.

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Nickel futures seen heading up

June 16, 2008: After the sharp decline in early 2008, nickel futures are set for an upward move in the short term.

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Nickel futures bullish, crosses Rs 1,000 per kg mark

June 13, 2008: Nickel futures surged by over 3 percent in the domestic market on June 12, on account of heavy buying at lower levels and strong global trends.

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Rain cheer for rubber growers as price hits Rs 130

June 12, 2008: With monsoons gaining strength, natural rubber prices are once again witnessing a rising trend. Since international prices are also looking up, there could be yet another bullish phase in prices during the current monsoon period.

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Siemens Metals unit to manufacture truck components in Nashik

June 12, 2008: Mining Technologies, a business unit of Siemens VAI Metals Technologies, has decided to manufacture inverter/control components for shovels and trucks at its Nashik factory, to meet the demand for mining equipment in India.

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Base metals down on global cues

June 11, 2008: Base metals continued their downslide movement on June 10 in the capital on stockists selling triggered by subdued trends at London Metal Exchange (LME).

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Alcoa of Australia declares force majeure

June 11, 2008: Alcoa of Australia, a part of the Alcoa World Alumina and Chemicals (AWAC), on June 10 informed its customers that it was declaring a force majeure under its alumina supply contracts.

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NALCO to develop aluminium wagons

June 10, 2008:

By Rajkumar Mitra: In what can be considered a major breakthrough, NALCO, the leading producer of primary aluminium in the country, has broken the age old practice of relying on steel wagons. Perhaps for the first time, a public sector unit (PSU) company is all set to initiate the launch of aluminium wagons by the end of this year.

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Vedanta to invest $20 billion in India

June 10, 2008: Vedanta Resources Plc intends to invest $20 billion within the next four years to increase the power generation and metal production in India, stated a foreign news agency report quoting the chairman Anil Agarwal.

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Polymer prices surge on rising crude oil

June 10, 2008: Prices of petrochemical products like polymers and plastic vinyl have surged up to 20 percent in the last two weeks, as crude oil continued to trade at record levels in the global market.

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Hindalco, Sterlite may shun uniform copper pricing

June 10, 2008: Hindalco Industries and Sterlite Industries, the two privately-owned copper majors, are mulling a change in their pricing mechanism in the wake of a dramatic rise in fuel prices.

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Base metals down on MCX

June 10, 2008: Futures of base metals were down at commodity exchange MCX on June 9 largely on profit-taking by speculators and rising inventories on the London Metal Exchange.

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Tin, nickel up on global cues

June 10, 2008: Select base metals, tin and nickel, strengthened on June 9 in the national capital on the back of firming global markets and pick up in demand from consuming industries.

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JK Lakshmi sees future in ready-mix concrete

June 9, 2008: JK Lakshmi Cement, part of JK Group, is adding five more ready-mix concrete (RMC) units as part of its expansion plans. At present, it has 10 RMCs, and the addition of another five will be completed by the end of current fiscal with an investment of Rs 100 core.

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Madurai rubber units hike product prices

June 9, 2008: Slipping into doldrums due to an increase in raw material costs, the emerging rubber hub in Madurai, Rubber Park (Madurai) Ltd., a consortium of rubber product manufacturers here, has announced a hike in the prices of finished products, effective July 1.

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Sulphur price scales new high

June 6, 2008: Sulphur supplies to India is currently reaching Indian ports at $860 CIF. Prices have jumped by $130 since April beginning this year, and is expected to rise further.

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Ferro-silicon prices at record high

June 6, 2008: Ferro-silicon, having silicon content of 70 percent and imported from China, have touched $2000 per ton in June from $1400 per ton prevailing in March 2008.

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Ammonia prices drop on short term

June 6, 2008: Purchase departments of domestic fertiliser companies at last have cause for cheer as ammonia import prices have dropped by as much as 15 percent in the month of May 2008 compared to last month.

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Ferro vanadium price up

June 6, 2008: Ferro vanadium was selling at Rs 1500 per kg in June (ex-works), according to an Indian producer, from Rs 1100 per kg prevailing in April 2008 in the Indian market. Reduced exports from China was said to be the primary reason for this uptrend.

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NALCO draws up Rs 40,000 cr expansion plan

June 6, 2008: The National Aluminium Company (NALCO) has announced that it had drawn up ambitious growth plans involving an investment of around Rs 40,000 crore in the next five years.

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Data on cement price movements point to regional 'cartels' at work

June 6, 2008: While inflation touches new highs, a finger continues to wag accusingly at producers of basic inputs like cement and steel. Over the last year or so, cement prices have increased by around 15%, which exceeds by far the general rise in the level of wholesale prices.


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Cement tax refunds withdrawn

June 4, 2008: The government has decided to withdraw tax refunds on cement exports, which it had allowed on June 2.

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Aluminium traders see cost upswing until 2013

June 4, 2008: Record energy prices and power failures from China to South Africa are leading to mounting concerns that aluminium supplies will be curtailed within five years as production costs increase, futures prices show.

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Nalco cuts product prices

June 4, 2008: The National Aluminium Company (Nalco) has cut prices of its rolled products by Rs 3,500 per ton, B.L. Bagra, director (Finance) said on June 3.

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Aditya Birla group's cement production up 2.33% in April-May

June 3, 2008: The Aditya Birla group on June 2, said its cement production for the period April-May has risen 2.33 percent to 54.32 lakh tons, against 53.08 lakh tons in the year-ago period.

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Adhunik arm to go public

June 3, 2008: Adhunik Metaliks Ltd has decided to take over its wholly owned subsidiary Orissa Manganese and Minerals public.

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Govt puts mineral royalty hike on hold

June 3, 2008: The proposal to increase royalty rates for minerals by changing the calculation method -- from the specific rates to the ad valorem system based on mineral prices -- has been put on hold for three months.

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Hindustan Copper raises prices marginally, down 6% on LME

June 3, 2008: Enthused by a rise in domestic orders on the back of huge infrastructure initiatives in the country, public sector Hindustan Copper has raised the selling prices of its products by 2 percent. However, price on the London Metal Exchange (LME) has gone down.

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Tyre dealers voice concern over price hikes

June 2, 2008: Tyre dealers will meet the Union Industry Secretary, Ajay Shankar, on June 2, opposing "indiscriminate tyre price hikes by domestic tyre majors".

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MoF denies sop to cement firms

June 2, 2008: The finance ministry has turned down a proposal from department of industrial policy and promotion (DIPP) to give 35 percent abatement on excise duty to cement manufacturers.

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Sagar Cements' new units launch in July

June 2, 2008: Sagar Cements Ltd will be commissioning its Rs 296-crore brownfield clinker and cement plants in July.

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Ultratech buys S. Africa coal at $170 per ton CIF-seller

June 2, 2008: Indian cement maker Ultratech bought a parcel of South African coal ex-stocks at an Indian port for $170 a ton CIF and is seeking more, the seller, an Indian trader, said.

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Zoom Developers to set up $130 mn plant in Oman

June 2, 2008: Mumbai-based Zoom Developers will invest $130 million to set up an aluminium production plant at the port of Sohar in Oman.

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Hindustan Zinc lowers prices

May 30, 2008: Hindustan Zinc has cut lead product prices by Rs 5,800 a ton to Rs 98,400 on May 30th, while zinc prices have been reduced by Rs 4,000 a ton to Rs 99,900.

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Aditya Birla Minerals scouring for copper assets

May 30, 2008: Aditya Birla Minerals Ltd, in which Hindalco holds 51 percent stake, is looking for new mines and opportunities across the globe, including Africa and South America.

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Linde Group plans to invest 1 billion euros in BOC India

May 30, 2008: Germany's Linde Group plans to invest euros 1 billion euros in its unit BOC India Ltd over 7-10 years, a senior official said.

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Punjab rubber units hit by rising prices and competition

May 29, 2008: Rising prices and stiff competition from other states has put the rubber units of Punjab in jeopardy. A majority of units, especially in the SME sector, has either closed down or are resorting to layoffs.

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Nickel prices to rise as China shuts furnaces

May 29, 2008: The price of nickel, which has halved in the past year, may rebound as China shuts furnaces producing the substitute nickel pig iron.

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Cement stocks resurge on easing of export ban

May 29, 2008: Cement companies in the Western region particularly UltraTech and Ambuja Cements can breathe easier now as the Government has lifted the ban on cement exports from Gujarat ports.

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Jinchuan, Philnico terminate talks on Philippine nickel project

May 28, 2008: Jinchuan Group Ltd. and Philnico Industrial Corp. finished discussions for a joint venture on a nickel project in southern Philippines, stated a foreign news agency report quoting Philnico President Evaristo Narvaez.

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User industries scour for stocks despite zooming rubber prices

May 28, 2008: Tyre manufacturers and other user industries of natural rubber complained of lack of the commodity's availability even as its prices touched Rs 137 a kg.

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Cement exports allowed through Gujarat ports

May 28, 2008: The government has eased the ban on cement exports from the ports in Gujarat. Gujarat accounts for almost 90 percent of the country's cement exports.

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Rubber futures led to price volatility: ATMA

May 27, 2008: Futures trading in rubber did not benefit any stakeholder, led to price volatility, and was "essentially used by speculators for their profit", Rajiv Budhraja, director general, Automotive Tyre Manufacturers Association (ATMA), said.

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Cement companies plan ready-mix concrete foray

May 27, 2008: Barely a fortnight after the French cement major Lafarge acquired L&T Concrete, the ready-mix concrete (RMC) business of Larsen & Toubro (L&T), several domestic cement players have shown interest for foraying into RMC, which they see as a growth opportunity.

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Base metals up on industrial demand

May 27, 2008: The wholesale prices of tin ingot and nickel rose up to Rs 10 a kg in the national capital on May 26, on increased demand from consuming industries.

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High rubber prices dent tyre industry profits

May 26, 2008: The continued rise in the prices of natural rubber in the current financial year has set the Rs 19,000-crore tyre industry behind by almost Rs 1,000 crore.

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Private competition may be cause of concern for Concor

May 24, 2008:

By Dhirendra Pandey & Lokenath Tiwary: The Container Corporation of India is faced with stiff competition from private players entering the container transport operation business. Although it is far ahead in terms of infrastructure to the 14 private players who have obtained the licences to run container trains, Concor's position may well be threatened if a level playing field is provided.

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Lower lead times and lower price : Indian power sector prefers to use Chinese equipment

May 24, 2008:

By Arusha Das & Sarbani Haldar: The Indian power generation sector is showing a strong preference for the competitive Chinese power equipment over domestic ones. Manufacturers feel that using the Chinese products, with lower lead times, would definitely help them in improving their performance and thus meeting project deadlines.

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Rubber prices to get corrected in June

By Nudrat Alim: The Forward Markets Commission (FMC) has imposed a four-month ban on futures trading of rubber, following the recent escalation in domestic rubber prices, with RSS 1 grade touching Rs 121 per kg on May 10, 2008.

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Benzene rates firming up

May 24, 2008: With crude oil price moving upwards, benzene import rates are found to have moved up by 6 percent in end April 2008 compared to March end prices. On April 30, import rates (CFR) were $1140 per ton compared to $1075 per ton on March 31.

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Cement makers likely to be under pressure from govt

May 24, 2008: Cement manufacturers are all set to face further stringent measures from the government if they do not cut prices on their own soon. The strategy worked with steel, and manufacturers have even agreed to hold back prices for a while.

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Polymer prices fluctuate in April

By Arusha Das: The polymer market maintained a bullish outlook in April 2008 on the back of soaring feedstock prices and low availability.

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Nickel prices likely to be steady in May

By Arnab Mallick: Nickel prices remained quite steady this April, thanks to the absence of any supply disruptions during the month. There were signals that market was getting into a steady mode, after the strike at Cerro Matoso mine that started on February 27, finally ended on April 1.

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Zinc prices likely to move in narrow band in May 08

By Arnab Mallick: Zinc prices were under constant pressure during entire April, primarily on the back of increasing inventories and relatively lower demand as compared to robust supply scenario in the market.

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Copper prices likely to remain stable in May

By Arnab Mallick: Copper witnessed high prices this April on the back of severe supply disruption, weakening dollar and soaring crude price. As expected, average copper price headed northward during the month and touched a month high of $8884.5 per ton on April 10 at the London Metal Exchange (LME) from month beginning from $8325.5 per ton as on April 1 (closing price).

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Global aluminium prices likely to remain high in May

By Arnab Mallick: Aluminium prices remained relatively high on back of higher cost of production in April. As anticipated, aluminium managed to maintain its price as power scenario in China and South Africa was not very bright thereby adding to the cost of production.

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Gujarat cement firms may cut capacity utilisation

May 23, 2008: Gujarat-based cement manufacturers may lower their capacity utilisation as the export ban last month has led to a situation of oversupply.

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AB Group plans to invest Rs 80,000 crore in Orissa in sectors including aluminium and cement

May 23, 2008: Aditya Birla Group, having interests in aluminium, telecom, cement, textiles, fertilisers, retail and finance, plans to invest Rs 75,000-80,000 crore in Orissa.

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Chinese quake not to hit Indian power capacity addition

May 23, 2008: Chinese power equipment manufacturers in India have ruled out supplies being hit by the May 12 earthquake in China.

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Aditya Birla Group to invest Rs 75,000 cr in Orissa

May 23, 2008: The Aditya Birla Group said on May 22 that it would invest Rs 75,000 crore in Orissa for its projects, including the alumina refinery project at Kashipur in Rayagada district.

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No ban on cement exports to Nepal

May 22, 2008: The Government has eased the existing export ban on cement to allow such exports to Nepal.

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World aluminium prices seen steady despite China worries

May 22, 2008: International aluminium prices are not expected to fluctuate much in the near term despite the power shortage that China is facing after the killer earthquake, said analysts.

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Base metals weighed down by supply, production concerns

May 21, 2008: Two developments are currently on top of base metals market concerns. While supply concerns have emerged in the wake of earthquake in China's Sichuan province, the latest OECD leading indicators (for March) point to a worsening outlook for industrial production in the developed world.

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JK Cement Q4 net dips 2.6%

May 21, 2008: Kanpur-based JK Cement has posted a decline of 2.6 percent in net profit for the quarter ended March 2008 at Rs 59.8 crore compared with Rs 61.4 crore in the corresponding previous quarter.

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ACC may hike prices after 3 months

May 21, 2008: ACC Ltd said that it was likely to increase prices after three months considering the impact of high input costs on its margins.

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German firm unveils Indian arm

May 20, 2008: SMS MEER, the German engineering giant, has launched its wholly owned Indian subsidiary, SMS MEER India Pvt Ltd in Kolkata.

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Time Technoplast plans packaging material unit at Kolkata

May 20, 2008: Time Technoplast, engaged in manufacturing and sale of technology-based polymer products, proposes to set up a new plant in Kolkata for packaging material for plastic drums and automotive components.

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Rubber prices soar to record Rs 120 per kg

May 19, 2008: Indian natural rubber prices have touched a historic high of Rs 120 for a kg of RSS4 (ribbed, smoked, sheet).

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Aluminium prices rises in futures trade at MCX

May 19, 2008: Aluminium prices surged 1.15 percent in the futures market on May 16, on expectations of a better demand from China, following a recent earthquake in that country.

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Duty cut fails to cool down manganese alloy market

May 16, 2008:

By Gilbert Lobo : The abolition of customs duty on manganese alloys will not bring down the prices of manganese alloys in India. Prices of manganese ore in India and abroad have gone up by 200 to 300 percent and what is worse is that the ore is extremely scarce. Ore is just not available anywhere in the world.

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Duty abolition will not reduce ferro alloy prices

May 16, 2008:

By Gilbert Lobo : The abolition of customs duty on imports of ferro alloys is not going to bring down the prices of bulk alloys in India. Customs duty was 5 percent, but prices of all alloys have gone up by 100 percent and more.

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JK Lakshmi to invest Rs 1,100 crore for new plant

May 16, 2008: Buoyed by over 25 percent jump in its net profit for 2007-08, JK Lakshmi Cement on May 15th said it will invest Rs 1,100 crore to set up a 2.7 million tons Greenfield plant at Chhattisgarh.

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Govt sees cement prices stabilising at Rs 200 a bag

May 16, 2008: The Government is expecting cement prices to settle down in the region of Rs 200 for a 50-kg bag within the next few days with a standard market fluctuation of approximately 10 percent across the country following assurance from cement manufacturers to bring down prices told, the Minister of State for Industries, Ashwani Kumar.

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Ankit Metals to invest Rs 1,000 crore

May 16, 2008: Ankit Metals and Power Limited has earmarked an investment of Rs 1,000 crore to ramp up steel production to 0.5 million tons per annum within three years.

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Government wants more cuts in cement prices

May 16, 2008: The government on 16th May said it expects further cut in cement prices for taming inflation. A day after the cement companies agreed to cut prices between Rs 3 and Rs 7.5 per 50-kg bag, Finance Minister P Chidambaram said there was huge scope for further reduction in the retail prices.

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L&T to boost infra with Lafarge money

May 16, 2008: Larsen & Toubro (L&T), the country's largest engineering and construction company, plans to use the Rs 1,480 crore ($349 million) that it will get from the sale of its ready mix concrete division for expanding shipping, power and infrastructure projects.

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More cement from Pakistan to help check price line

May 15, 2008: Arch rival Pakistan has turned out to be an unusual ally in India's fight against inflation. The two governments are working on ways to enable greater supply of cement from Pakistan by removing infrastructure and procedural constraints at the Wagah-Attari border.

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Rubber traders favour delivery

May 15, 2008: Rubber traders from Kerala have unanimously sought delivery of goods for their open position in a late evening meeting with the officials of the Ahmedabad-based National Multi Commodity Exchange (NMCE).

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JK Lakshmi Cement FY08 net goes up 26%

May 15, 2008: JK Lakshmi Cement has posted a 26 percent rise in net profit for the year ended March 2008 at Rs 223.67 crore against Rs 177.52 crore in the previous year. The company's net sales during the period was Rs 1,286 crore compared with Rs 971 crore, up 32 percent.

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Copper futures fall on steady dollar, output

May 15, 2008: Copper futures fell on May 14, as a steady dollar and a rise in copper output in China pulled prices down, analysts said.

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China quake effect may hit metals supply

May 15, 2008: The massive earthquake in Sichuan province of China on May 12 is set to rattle the demand and supply equation of base metals - copper, aluminium, zinc and lead.

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Aluminium companies to benefit from supply constraints, strong dollar

May 14, 2008: Of late, there has been a slowdown in aluminium output on account of power shortages in China and South Africa.

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Varun Shipping's fleet to get bigger

May 14, 2008: Varun Shipping has earmarked a capital expenditure of $400 million in the current financial year to expand its fleet.

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Unfazed by IIP, cement firms see 9% growth

May 14, 2008: The cement industry has shrugged off the possibility of being negatively impacted by the low industrial output numbers for March, 2008. Market players expect the industry to grow at the rate of 8-9 percent in this quarter (March-April).

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Private players eye seven sick Cement Corporation units

May 14, 2008: At a time when cement firms are under government pressure to cut prices, private cement players have evinced keen interest in running the sick units of government-owned Cement Corporation of India (CCI).

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Copper prices to surge on China quake, Peru strike

May14, 2008: Supply woes, a key driver for a spurt in international copper prices this year, have evaporated with metal stockpiles building up and price sentiments having reversed. However, the breather could be short-lived after the May 12 earthquake in China and a miners' strike looming in Peru.

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Cement cos may curtail investment in NE states

May 13, 2008: Over half a dozen cement companies may withdraw or curtail their proposed investment totalling around Rs 5,000 crore in setting up nearly 10 million tons of cement manufacturing facilities in the north-east.

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Power shortages may push aluminium to record high

May 13, 2008: Power shortages in China and South Africa may disrupt aluminium output again in the next few months, pushing the price of the metal to record highs.

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Copper set for a marginal drop

May 12, 2008: A moderate decline in copper prices is likely this week on speculation that China, the world's largest consumer, may continue to use domestically generated metals and reduce imports.

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Lafarge leads race for L&T Concrete

May 9, 2008: French cement major Lafarge SA, has emerged the frontrunner in the race to acquire the ready-mix concrete (RMC) business of engineering and construction major Larsen & Toubro (L&T).

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Cement producers assure govt on price cut

May 9, 2008: After prevailing upon steel producers to reduce prices, the Government on May 8 got assurance from cement producers also that they would substantially cut prices voluntarily.

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ACC to hold cement prices for 2-3 months

May 9, 2008: ACC Ltd said it has decided to hold its cement prices over the next two to three months.

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Indian banks do not want exposure in MENA region

May 8, 2008: The Indian banks have received a directive from the US to not issue any Letter of Credit for transactions, in US dollars, with countries which fall under the MENA (Middle East and North Africa) region, disclosed a source.

The reason which is being cited for this is the recent political instability in these nations.

Source: Sourcing Insights Bureau

Cement firms slash prices in Gujarat

May 8, 2008: In the first rollback in three years, cement companies in the state slashed the billing price by Rs 3 per bag on May 5.

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Rubber prices rise to an all-time high

May 8, 2008: Natural rubber (NR) prices peaked to an all-time high on May 7, moving hand-in-hand with global markets. The price of benchmark grade RSS-4 quoted at Rs 120 a kg, while the price of the ungraded variety also broke the record at Rs 115.

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Hindustan Copper opens innings on MCX

May 8, 2008: The public sector Hindustan Copper (HCL) has started hedging on the country's largest commodity exchange - the Multi Commodity Exchange of India (MCX) - through its broker Religare Commodities (RCL).

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China Will Cut Lead Exports, Support Prices, Antaike Says

May 7, 2008: China is likely to further reduce exports of lead supporting global prices, said Beijing Antaike Information Development Co.

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Aluminium giant may not take StanChart loan

May 7, 2008: After nearly three months of deliberation, Nalco may call off its plan to raise debt of €70 million from Standard Chartered Bank, B.L. Bagra, director (finance), Nalco, said.

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Heidelberg to restructure Mysore Cem operations

May 7, 2008: Mysore Cements, which was taken over by the German giant Heidelberg Cement from the Kolkata-based SK Birla group two years ago, is undergoing an exercise to improve its performance and to align itself with its global parent. The company has appointed BMR Advisors and Amarchand Mangaldas & Suresh A Shroff to prepare a future road map.

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ADAG cement plants may kick off in 2012

May 7, 2008: The Anil Dhirubhai Ambani Group's (ADAG) proposed foray into cement business is set to start next month with operations commencing on the first of the four 5-million-ton (mt) plants it intends to set up in Madhya Pradesh.

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Nalco plans Rs 14,000-cr unit in Orissa

May 7, 2008: The National Aluminium Company (Nalco) is exploring the possibility of setting up a greenfield aluminium smelter and captive power plant near Jharsuguda, western Orissa at an investment of more than Rs 14,000 crore.

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ACC April dispatches fall marginally

May 7, 2008: ACC has reported a marginal fall of 0.57 percent in dispatches at 1.73 million tons in April against 1.74 million tons recorded in the same period last year.

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We'll hold margins, cement cos tell govt

May 7, 2008: Major cement producers have assured the Government that they would hold their margins to help control inflation but have also asked the Government to facilitate their capacity expansion plans.

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Hindustan Copper prices up 2%

May 5, 2008: Despite a meltdown in global metal prices, Hindustan Copper has raised the provisional prices of its products for May by 2 percent effective from May 3.

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Aditya Birla group's cement production up 2.17% in April

May 5, 2008: The Aditya Birla group on 2nd May said its cement production in April increased 2.17 percent at 27.35 lakh tons, against 26.77 lakh tons in the year-ago period.

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Low aluminium prices hit Hindalco

May 5, 2008: Hindalco, the largest producer of aluminium in India, reported its fourth quarter result, which was slightly below market expectations. Its net sale for the quarter ended March 2008 rose by 5.5 percent to Rs 5,010 crore, slightly less than the average estimate of Rs 5,123 crore by four major brokerage houses in India.

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Capacity addition likely to soften cement prices

May 2, 2008: In a development that might bring down cement prices in the near future, the domestic industry has added close to 15 million tons per annum capacity in the last quarter, including 10 million tons in March alone.

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Nalco net dips on low aluminium prices

May 2, 2008: Nalco, the second biggest aluminium producer in the country, reported a below-expected result for the quarter ended March, 2008. The decline of 10 percent in net sales during the quarter ended March 2008 is mainly on account of lower aluminium prices and lower alumina sales volume growth.

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Rubber futures may open lower on weak Tokyo

May 2, 2008: Rubber futures are likely to open lower on May 2, on a weak Tokyo market and falling oil prices, analysts said.

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Cement price control under Govt consideration

May 2, 2008: Serious in its intent to rein in cement prices, the Government is contemplating using a practically abandoned provision of the Industries (Development and Regulation) Act, 1951, which empowers it to regulate prices and supplies of industrial commodities.