“BSP-Contract Cell Works has introduced online RA-3 form for LTE and LTR cases which is available at buyjuction portal. Vendors are requested to fill up the RA-3 form online before placement of Online Price Bid. Hard copy of Techno Commercial (TC) bids are not required to submit after that”
 

Industry Info

Aluminum Leads Drop in Metals on U.S. Budget, Stimulus Outlook

Aluminum prices in London fell for the first time in a week, pacing losses among industrial metals, amid prospects for a U.S. budget accord and speculation that the Federal Reserve will scale back monetary stimulus.

A budget deal is on track for approval by Congress, ending a cycle of spending standoffs that culminated in the 16-day partial government shutdown in October. The Fed will probably start paring $85 billion in monthly bond purchases following a meeting next week, according to 34 percent of economists surveyed by Bloomberg on Dec. 6, up from 17 percent a month earlier.

“That’s a very big deal for base metals because these markets have been inflated artificially by the Fed printing money,” Fain Shaffer, the president of Infinity Trading Corp. in Indianapolis, said in a telephone interview.

Aluminum for delivery in three months dropped 1.4 percent to $1,791 a metric ton at 5:51 p.m. on the London Metal Exchange. The price rose in the previous four sessions, the longest rally in 10 weeks.

Tin, lead and nickel also dropped.

Zinc rose 0.1 percent to $1,967 a ton. The price climbed for the seventh straight session, the longest rally in eight weeks.

Copper gained 0.1 percent to $7,226 a ton ($3.28 a pound). Earlier, the price reached $7,250, the highest since Nov. 4.

On the Comex in New York, copper futures for March delivery rose less than 0.1 percent to $3.2955 a pound, the fifth straight increase

Source: Bloomberg