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Base metals fall on reduced industrial off take


PTI reported that barring tin most of the base metals fell in an otherwise sluggish non-ferrous metal market here today on lower stockist demand amidst reduced industrial off take.

Meanwhile, tin prices advanced owing to rising demand from alloy industries. Copper cable scrap and copper wire bar dropped by INR 6 per kilo each to INR 464 and INR 492 from last Saturday's closing level of INR 470 and INR 498.

Nickel dipped by INR 5 per kilo to INR 1,335 as against INR 1,340 previously. Copper scrap heavy, copper utensils scrap and lead moved down by INR 3 per kilo each to INR 455, INR 420 and INR 124 respectively as compared to INR 458, INR 423 and INR 127 last weekend.

Copper sheet cutting and brass sheet cutting edged down by INR 2 per kilo each to INR 441 and 318. Copper armiture and brass utensils scrap softened by a rupee per kilo each to INR 447 and INR 312. However, tin prices rose by INR 5 per kilo to INR 1,615 from INR 1,610.

Nalco implementing INR 4400 crore Phase II expansion program National Aluminum Company Limited is in the process of implementing a INR 4,402 crore Phase II expansion program which include raising its mining, and refining capacity and setting up of a 1200 MW cogeneration plant.

The company has started commissioning the various expanded capacities of its alumina refinery at Damanjodi including cogeneration power plant, evaporation plant, stacker and bauxite circuit for production of alumina. Other packages in the plant are under advanced stages of commissioning.

As part of its second phase expansion program, Nalco is enhancing its alumina refining capacity to 2.1 million tonnes from the existing 1.575 million tonnes. The company has placed equipment orders for upgrading alumina capacity to 2.275 million tonnes under its 4th stream upgradation program.

Nalco has already commissioned the fourth potline of its smelter plant and the ninth and tenth units of its captive power plant both located at Angul. The work at the Damanjodi refinery lagged after the Maoist attack in April 2009, when several contractors and their workers left the place. Some works were then offloaded to other contractors.

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