The pact is signed between the two parties, which predict the tolling arrangement with existing smelters in Iran. Aluminum firm Nalco and Iranian Mines & Mining Industries Development & Renovation Organization (IMIDRO) signed the pact to produce aluminum from alumina supplied by Nalco.
The pact was signed with an intention to explore the probability of establishing an aluminum smelter in Iran. The Nalco is an Orissa-based supplier of alumina, which has a refinery in India. The pact is signed between the two parties, which predict the tolling arrangement with existing smelters in Iran. Aluminum firm Nalco and Iranian Mines & Mining Industries Development & Renovation Organization (IMIDRO) signed the pact to produce aluminum from alumina supplied by Nalco.
Nalco is expecting to use the low-cost gas-based energy, which is available in Iran. Low-cost gas-based energy aids Nalco in the conversion of its surplus alumina, which is presently exported to international markets in order to fetch the value-addition and improve value chain. The pact was signed by the CMD of Nalco and Vice Chairman of Planning Board, Iran in Tehran, where the Prime Minister of India and President of Iran was present.
In order to trade in commodities, you need to implement various technical indicators. Here is one of the best technical indicator to generate Free option tips intraday.
Open interest is an indicator, which is frequently used technical analysts and traders to verify the market trends and trend reversal for both the markets of futures and options. Open interest shows the total number of option and future contracts on a stock or security. However, in technical analysis, the analysts give importance to the combination of volume and open interest. When the volume is used in combination with open interest, it represents the total number of shares and contracts, which change its hands in one-day trading session in the commodities and stocks.
The trading volume depends on the amount of trading during a market session. If a number of stocks traded throughout the market is larger, then the volume is higher and vice versa, if a number of stocks traded during the market are less, then the trading volume is less. Volume shows the determination of strength or stress after the trend in the price. The trend is expected to continue rather than reverse when the volume is high.
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