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CHINA PROCESSED COPPER CONSUMPTION MAY RISE 3-5% FROM 2011

Date: 26/3/2012

China's consumption of processed copper in 2012 is expected to rise 3-5% from 2011, as per China-based Antaike. Antaike, state-owned metals information provider, said that China consumed 10.563 million mt processed copper products in 2011, up 3% year-on-year.

Despite the expectation of a fall in GDP growth, Antaike predicted 3-5% growth in domestic processed copper consumption in the current year.

There isn't a direct relationship between refined copper consumption and that of processed copper, as copper processing plants don't rely 100% on refined copper for processing.

China State Council forecast GDP growth at 7.5% earlier this month, down from around 8%. China produced 10.281 million mt processed copper in 2011, up 4% from 2010. China imported 1.282 million mt processed copper in 2011, down around 10% from 2010.www.goldennifty.com

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Share Market Best Live News (26-03-2012)

SENSEX TUMBLES 244.53 POINTS; REALTY, BANKS, POWER HIT MOST

Date : 26.03.2012

Indian equities continues to trade on a weak note due to selling pressure seen across counters. Realty stocks plunged the most followed by banking and power.

The Sensex was trading down 244.53 points or 1.41% at 17,117.21 with 28 components falling. Meanwhile, the Nifty was trading lower by 81 points or 1.53% at 5,197.20 with 48 components falling. www.goldennifty.com

The 30-share benchmark index, BSE Sensex opened flat with a rise of 15.85 points or 0.09% at 17,377.59, while the broad based NSE Nifty started with a fall of 3.85 points or 0.07%, at 5,274.35. www.goldennifty.com

Sensex Movers

I C I C I Bank contributed fall of 48.29 points in the Sensex. It was followed by Reliance Industries (20.74 points), Infosys (19.56 points), H D F C Bank (14.18 points) and Larsen & Toubro (13.46 points). www.goldennifty.com

However, Jaiprakash Associates contributed rise of 2.09 points in the Sensex. It was followed by Wipro (0.83 points), Hindustan Unilever (0.67 points), Sun Pharmaceutical Industries (0.77 points) and Maruti Suzuki India (0.86 points).

Biggest gainers in the 30-share index were Wipro (0.27%), and Hindustan Unilever (0.14%). www.goldennifty.com

On the other hand, I C I C I Bank (3.91%), Tata Power Company (3.82%), D L F (3.59%), NTPC (3.29%), Cipla (2.97%), and Sterlite Industries (India) (2.66%) were the major losers in the Sensex. www.goldennifty.com

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RAPE MUSTARD CROP IN COUNTRY EXPECTED AT 60.3 LAKH TONNES

Date: 26/3/2012

The total output of Rape-Mustard in the country including Toria Crop is estimated at 60.3 lakh tonnes for the current season, according to a latest update from the Solvent Extractor's Association Of India (SEA). Although the crop is reasonable and arrival has picked up, there is continuous disparity in the crushing, notes the SEA. The SEA opines that the crop size is reasonable and do not get panic to buy rapeseed at high price and run into losses. It would be more prudent and advisable to restrict your buying to the current operational need. This would bring the market at reasonable level in a month or two.

The overall rabi oilseeds crop 2011-12 decreased to 87.90 lakh tonnes from 98.75 lakh tonnes last year and the combined kharif and rabi oilseed crops is estimated at 260.15 lakh tonnes, up by 5.75 lakh tonnes from the previous year. Although the oilseeds production has gone up marginally, the total vegetable oil availability is estimated at 81.24 lakh tonnes compared to 85.23 lakh tonnes last year, since the marketable surplus for high oil content seeds like rapeseed and groundnut has reduced.

In view of the lower availability of vegetable oils & to meet the growing demand due to increase in per capita consumption and population, India may have to import atleast additional 5 lakh tonnes of edible oil compared to last year and may touch in range of 92 to 94 lakh tonnes for the oil year 2011- 12 (Nov-Oct) costing exchequer over Rs.50,000 crores.www.goldennifty.com

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