Metal and Mining Newsletter - December 15 to 19, 2014

The government is unlikely to sell residual stake in Hindustan Zinc and Balco in the current fiscal, according to reports.

Dec 19, 2014 09:12 IST India Infoline News Service

How did the metals pack perform during 2014?
Nothing much transpired during this year, with the price trends remaining mixed in the non-ferrous metals. Nickel top-performed the pack, Aluminum, and Zinc registered decent gains, while Copper and Lead prices witnessed deterioration. On the supply/demand dynamics, things have relatively changed with several metals witnessing a transformation from a global surplus to a deficit. Read More...
Govt unlikely to sell residual stake in Hindustan Zinc, Balco this fiscal
The government is unlikely to sell residual stake in Hindustan Zinc and Balco in the current fiscal, according to reports. The Disinvestment Department is yet to receive valuation report of both the companies. The government currently holds 29.5% stake in HZL and 49 per cent in Balco. The government is looking at ONGC and Coal India disinvestments to meet the current year's target, says report.
Lok Sabha passes Coal Mine Bill
The Lok Sabha passed the Coal Mines Bill. Report said that Coal Mines Bill Seeks coal mine allocation to  successful bidders.Report said that the Opposition was demanding that the legislation should be sent to Parliamentary Standing Committee for scrutiny. The Coal Mines (Special Provisions) Bill, which replaces an ordinance, was brought in the wake of the Supreme Court order cancelling the allocation of 204 coal blocks on September 24 and resetting the agenda for their allocation.
Metals pack: What’s in store for copper in 2015?
The 2015 metals price trajectory will be akin to the trends witnessed during this year, characterised by narrow range and restricted volatility. The price trend will be influenced by counterbalancing forces: subdued Chinese economic landscape on the one side, while improving fundamental profile for the metals on the other hand. Read More...
Metals pack: What’s in store for Aluminium in 2015?
During 2013, Aluminum proved to be a laggard with prices of the metal on several occasions moving below the key cost level of US$1,800/ton. However during the first half of this year, surging physical premiums have reignited some kind of bullish interest in otherwise a beleaguered metal. Huge quantum of metal tied in the financing deals and consequent long queues at LME major warehouses is attributed behind the amazing rise in spot premiums. Read More...
Metals pack: Will Zinc galvanise into action in 2015?
Zinc prices have been confined in a narrow range for past few years, as uninspiring fundamental profile for the metal deprived the bulls of any impetus. However, the outline for the metal seems to be eventually changing. After a six year long period of structurally oversupplied, global zinc markets witnessed a deficit during 2013 and deficit is expected for this year and next year as well. Read More...
Metals pack: What’s in store for Lead in 2015?
Lead performance this year has been disheartening, with LME prices down by 9% on YTD basis. The metal’s fundamentals during 2013 were construed to be the best among the non-ferrous pack. However, things have not transpired that way. Emergence of certain bearish variables this year completely changed the fundamental profile for the metal. In this respect, China became a net exporter of the metal with the country’s exports during the first ten months of 2014 growing 54% on yoy basis, while imports slumping by 72% during the same period. The country imported meagre 188 tons during Jan-Oct’14 period, while exported 26,300 tons respectively. Read More...
Metals pack: What’s in store for Nickel in 2015?
Nickel prices suffered the most during 2013, with prices hitting a four-year low of $13,300. The beleaguered metal lived up to the image of a laggard, whereby supply remained at adequate levels and demand languished. However, the bulls came back in the reckoning this year. Nickel prices skyrocketed during the first half of this year, with prices rebounding from the low of US$13,900/ton during January to test the highs of US$21,625/ton during May. Read More...
SBI approves OTS scheme for mining industry in Goa
State Bank of India has approved the one-time settlement (OTS) scheme for its borrowers from the beleaguered mining industry in Goa says report. According to the media reports, this move is expected to pave way for other financial institutions to settle the long-pending bad debt.The scrutiny committee of the state's Economic Development Corporation recommended the Goa government to go ahead with the OTS offered by SBI to its borrowers, says report. Read More...
JSPL raises Rs 10 bn from Kotak Mahindra Bank
Jindal Steel & Power Ltd has informed BSE that the Executive Sub-Committee of Board of Directors has, at its meeting held on December 18, 2014, allotted 10,000 Privately Placed Rated Redeemable Unsecured Non-Convertible Debentures for cash at par aggregating to Rs. 1,000 Crore in three series to the Kotak Mahindra Bank Limited.
JSW Steel remains committed to Bengal Steel Project
JSW Steel Ltd proposed 10 MTPA green field steel plant made good progress in acquisition of land, site development and coalmines exploration activities in the State of West Bengal.  During the course of hectic pre-implementation project activity, ban/restriction on Iron ore mining in the country followed by cancellation of coal blocks including the coal mines earmarked for the project, brought severe uncertainty to the linkages of critical inputs for steel making. Read More...
Tata Steel may resume production from iron ore mine: reports
Tata Steel is planning to resume production from its iron ore mine this month, according to reports. Report said that restart of production at Tata Steel's Noamundi mine should help company lower its reliance on overseas purchases.
Hindalco Industries: CBI is investigating coal allocations
The Exchange had sought clarification from Hindalco Industries Ltd with respect to news appearing on ET NOW on December 16, 2014 titled "Special Court rejects closure & orders CBI to further investigate the coal scam involving Hindalco". Hindalco Industries Ltd replied stating "CBI as per the direction of the Hon'ble Supreme Court is investigating coal allocations made to various Companies including Hindalco. CBI is directly reporting to the Special Court. While the CBI has given its closure report, the Court has asked for further investigation on few specific aspects. As the matter is between the CBI and the Court, and also subjudice, it is inappropriate for us to comment.
JSW returns Salboni project land to farmers: Report
According to the report, JSW announced that it has proposed steel-cum-power plant at Salboni on hold.CM Mamata Banerjee said the group has decided to surrender the 294 acres purchased directly from farmers for the project. Read More...
Coal India examining proposal to register subsidiary in South Africa
Coal India Ltd is planning to examine proposal to register a wholly-owned subsidiary in South Africa to acquire and develop coal assets, says report.The company has appointed Deloitte as the consultant for advising on the regulatory framework. Read More...
Sesa Sterlite Aluminium Smelter Plant wins ‘National Energy Conservation Award-2014’
Efficient management of available energy resources has been one of the major thrust areas of Vedanta’s operations across the World. Adding feather to its rich collections of awards and accolades over the years, Sesa Sterlite’s Aluminium Smelter Plant, Jharsuguda has been awarded the 1st Prize in the prestigious “National Energy Conservation Awards -2014” in Aluminium sector of India. Read More...

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