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Online Personal Finance Magazine
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Aluminium prices saw a revival during June-August 2009 due to supply concerns of Japanese primary aluminium buyers in the March 2009 quarter. Also, following an accident at Russia’s largest hydroelectric power station in Siberia, RUSAL, the world’s largest aluminium producer, has announced production cuts of about 500,000 tonnes. Between mid-May and 2 September 2009, aluminium prices...
Gold Loses Lustre…
Despite the festive season, gold import declined by a huge 90% in August 2009, as the high prices deterred people from buying the precious metal, especially after drought triggered fears of a dent in rural income. The import of gold this festival season (September-December) is expected to be much lower than last year’s level of 146 tonnes, if prices remain firm at around...