Bhubaneswar, June 10 : Aluminium prices are likely to remain in a range of $2,500 to $2,700 a tonne for at least the next two-three months, India's state run National Aluminium Company Limited (NALCO) said Friday.

"We believe that in the short term in next two to three months the prices should remain range-bound between $2,500 and $2,700," B. L. Bagra, NALCO chairman-cum-managing director, told IANS.

Slight delay in growth projects - Not a major concern Monnet's Q4FY11 revenues at Rs4.5bn and EBITDA at Rs1.3bn were flat YoY as improved steel performance was offset by lower power tariff (Rs3.1 in Q4FY11 vs. Rs4.3 in Q4FY10 & Rs3.4 in Q3FY11). OPM declined by 43bps to 29%. Net profit grew 6% YoY to Rs766mn on account of higher other income.

Segmental performance: Steel segment revenue grew 11.7% YoY on account of higher blended realisations (up 21% YoY) despite a 11% YoY decline in volumes at 171kt. Power sales of 235mn units were higher 6% YoY; however with 27% fall in tariff's to Rs3.1/kwh, power segment revenues declined 21% to Rs872mn.

Lead ores are mined at a rate of more than three million tonnes a year with a market value of around US $1 billion and the world market for refined lead stands at about US $15 billion. While it has a high economic value, lead is relatively economical to produce. As with all metals, there are two main production routes. Primary production from mined lead ore is of course the original source of all lead, but secondary production, where it is recovered from recycled products or from residues arising from the production process is of enormous importance.

On the stock point of view it is estimated that there is plenty of lead around to absorb any short-term demand boost. LME stocks of the heavy metal touched a multi-year high of 297,500 tonnes in early February as metal was sucked into the system in response to cash-date tightness. Arrivals in the LME warehouse system totaled 98,300 tonnes in the first six weeks of the year as short position holders elected to deliver metal against their February positions.

Rise in input cost offsets rev. growth; OPM contracts For Q3FY11, while revenue for metal companies in PINC coverage universe grew by a healthy 14% YoY, benefiting from both improved realisation and higher volume, EBITDA growth at 2% YoY was subdued due to sharper rise in raw material and power cost. Blended OPM contracted by 216bps to 18.2%. However, PAT grew 13% YoY on lower interest and tax outgo.

The precious metals gold and silver has shined more on Friday, 18 February 2011. Both were traded at their high and had made a very strong positive move at Comex. Silver has made a high of last thirty- two years.

Gold and silver rallied as concerns on Dollar weakness along with the circumstances at the Middle East. At New York Mercantile Exchange, gold futures for April ended with a hike of $3.5 (0.2%) at $1,388.6 last Friday as compare to last week’s closing with a high of 2.1%.

Hindalco Industries, a company of Aditya Birla Group has reported a net profit of Rs 460 crore for the third quarter of fiscal year 2011 ended December 31, 2010. Net profit rises 8% accompanied by higher aluminum prices.

Also, Q3 witnessed increase in the Company’s net sales and operating revenue by 12% at Rs 5,975 crore. The hike is due to better geographic mix and improved realization, despite of lower metal volumes.

In Q3FY11, Nalco's revenues increased by 2% YoY to Rs14.4bn on higher LME aluminium (up 19% YoY to USD2,338/t) even though metal sales declined 12% YoY to 104kt. EBITDA grew 32% YoY to Rs3.9bn & OPM expanded 610bps to 27.0%. PAT rose 65% YoY to Rs2.6bn aided by lower tax rate.

Volume: While alumina and aluminium output remained flat YoY at 399kt and 112kt respectively, sales declined to ~162kt (down 9% YoY) & ~104kt (down 12% YoY) respectively on inventory built-up.

Improved vol and better realisations boost performance - HZL's Q3FY11 revenue increased 17% YoY to Rs26.3bn, owing to 15% YoY rise in metal sales and higher LME zinc price (up 6% YoY). Operating profit grew by 9% YoY to Rs15.1bn on higher raw material and stripping cost. PAT grew by 12% YoY to Rs12.9bn on higher treasury income and lower tax rate.

We believe that metal companies in India would benefit from sequential upswing in prices. However, cost pressure, mainly increasing raw material and higher energy cost would impact margins. We expect Q3FY11 performance for metal companies to be a mixed bag, depending upon the varying level of integration.

Ferrous: Although steel prices rebounded sharply in Dec'10,

Indian markets finished rough session on a lower note in advance of October F&O series expiry. Metals, banks and PSU stocks were under stress while auto and FMCG space finished discreetly higher.

Bombay Stock Exchange’s Sensex closed at 20221.39, down by 81.73 points or 0.40 %. The index moved intraday low of 20189.30 and high of 20344.68.

National Stock Exchange’s Nifty ended at 6081.45, down 24.35 points or 0.40 %. The broader index rose at the high of 6120.25 and low of 6074.95 in today’s trade.

BSE Midcap Index was pulled down by 0.42 % as BSE Smallcap Index inched 0.22 % higher.

Today, Vedanta group organization Sterlite Industries reported a development of above five per cent in its combined net earnings for the subsequent quarter closing September 30.

Sterlite Industries has recorded a net profit of Rs 1,008.03 crore during the month of September quarter of the recent financial as next to Rs 958.85 crore in the similar period previous fiscal, the group expressed in a report to the Bombay Stock Exchange.

On the other hand, the overall income of Sterlite for the subsequent quarter turned down to Rs 6,084.35 crore as next to Rs 6,142.14 crore in the similar quarter of preceding fiscal.

The group share was dealing at Rs 171.25 on BSE, downward by 0.64 per cent from the preceding close.

Gold prices dwindled down by Rs. 240 to Rs. 19,530 per 10 gram on materialization of fragment gold jewellery putting on sale by retailers at on hand elevated stages in the middle of feeble worldwide tendency.

Silver prices, as well stayed off pretty low with the broad deteriorating tendency, and pushed up by Rs. 550 to Rs. 35,550 per kg, as stockist relieved of the fraction of their investment and mass consumers desist from purchasing at elevated levels.

On Friday, Britain's Vedanta Resources expressed that it was hopeful New Delhi might ultimately endorse development of the group’s aluminium refinery; a day subsequent to the move was infertile.

The head of Vedanta unit Vedanta Aluminium Ltd in Orissa state, Mukesh Kumar, called for the denial of the development plans which are an unenthusiastic progress. However Vedanta is confident of receiving development consent subsequent to give in particular documents, Kumar expressed with the media, without intricating.

In yet another gust to the Anil Agarwal, the owner of Vedanta Alumina Ltd, the environment ministry has resolute to stop the progress of the company’s plans of expanding its Rs 4,600-crore Lanjigarh refinery in Orissa.

However the presented one million tonne Lanjigarh refinery will continue to be in operation.

The ministry has found the Lanjigarh refinery’s development to be “unauthorized” and in serious desecration of environmental laws.

Both the valuable metals, silver and gold, elevated to an all-time high throughout the early on trade on the bullion market here on Thursday on frantic stockiest buying among tentative support set off by rise in the worldwide market.

Silver prices (.999 fineness) rose up by Rs 940 per kilo to recommence at Rs 37,130 by the immediate closing level of Rs 36,190.

Normal gold (99.5 purity) went up by 185 per ten grams to Rs 19,880 from Rs 19,695 formerly.

Pure gold (99.9 purity) also toughened by Rs 180 per ten grams to Rs 19,975 from Rs 19,795 days gone by.

The price of gold increased today by Rs. 145 to get back the level of Rs. 19,000 after8 weeks in the bullion market here amidst stockists and jewelers frantically buying after the global trends got firmed.

Gold extended its profits for the eleventh continuous day, and its price increased by Rs. 145 to sell for Rs. 19,110 for every 10 grams. This kind of level was last seen on 1st July.

As per the statement submitted by the World Gold Council (WGC), the total demand for gold in India during the first half has rise substantially. It has grown by 94 per cent to end at 365-tons as against 188.4 million tons.

The statement said, "Demand for gold in India rose by 94 per cent to 365 tonnes in H1 2010 as compared to 188.4-tonnes in H1 2009 clearly indicating that there has been a rebound in demand as compared to the previous year."

Breaking the ten-day rising trend, the price of gold came down by Rs 25 to settle at Rs 18,965 for every 10 grams in New Delhi today. Meanwhile, the price of silver remained constant at Rs 29,200 a kg in a restricted buying activity from the industrial units.

According to market analysts, the main reasons for the downfall in gold prices are the profit-selling by stockiest and the weak global market reports.

Gold usually sets the price trend in the global markets on a domestic front, had a trade which was marginally down by 0.02 percent to 1227.70 US dollars per ounce.