MySteel Global – Chinese traders’ steel stocks dip further on firm sales

Steel stocks at Chinese traders’ warehouses declined further and faster over September 11-17, thanks to the firm end-user demand over the period, even though market sentiment stayed gloomy, Mysteel Global noted. The inventories of rebar, wire rod, hot-rolled coil, cold-rolled coil and medium plate among traders in 132 cities nationwide checked by Mysteel decreased for […]

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Heavy rains affected crops like paddy, pulses, oilseeds, vegetables in India, says minister

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Heavy rains in some parts of the country have affected standing crops including paddy, pulses, oilseeds, spices, fruits and vegetables, Agriculture Minister Narendra Singh Tomar said in a written reply in the Rajya Sabha. “There have been extreme weather events in the form of heavy rains in some parts of the country which affected the standing crops,” he said.  Tomar […]

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India’s steel industry perking up on revival of demand from both auto and white goods sector

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A surge in demand from the auto and white goods sectors followed by some activity in government infrastructure projects are driving the recovery of large Indian private steel producers. However, small steel producers have had to cut production because of severe shortage of raw material and higher input costs. India’s largest private sector steel producer, […]

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International skimmed milk powder (SMP) prices hit a seven-month high, bringing cheers to dairy owners across India

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International skimmed milk powder (SMP) prices have hit a seven-month high, reports Indian Express. Last week, prices of SMP at Global Dairy Trade (GDT), the fortnightly auction platform of New Zealand’s Fonterra Cooperative, averaged $2,889 per tonne. This was a 8.5 per cent jump over the previous auction rate of $2,663 on September 1 and […]

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India’s coal-fired power output picks up on rise in industrial use from western states

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India’s coal-fired electricity generation rose 9.4 per cent in the first half of September, provisional government data showed, as demand from industrial western states rose for the first time since coronavirus lockdowns were enforced. The country’s overall electricity generation rose 1.6 per cent during the first 15 days of September, a Reuters analysis of daily […]

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Petrol demand in India returning to pre-COVID-19 levels in September; diesel still down

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India’s petrol sales rose for the first time in the first half of September since the country’s lockdown in late March, indicating demand may have returned to pre-COVID-19 levels. Petrol sales between September 1 and 15 rose 2.2 per cent year-on-year and were up 7 per cent over the previous month, according to preliminary industry […]

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