The overall gems and jewellery exports declined by 25.71 per cent to Rs 1,85,952.34 crore during 2020-21 compared to the previous financial year on account of COVID-related disruptions, industry body GJEPC said. “2020-2021 was an exceptional year, yet the industry has shown resilience, adapted to the new normal and strived towards attaining recovery in exports […]
Indian demand for US mid-volatile matter and premium hard coking coal (HCC) imports grew in 2020 as strong steel and met coke fundamentals support India consumption rising to a new high in 2021 and 2022, according to Iman Resources. India imported 4.16 million tonnes of US met coal, down slightly from the 4.21 million tonnes […]
Copper has resumed its rally, as analysts and executives expect increasing demand and likely low supply to drive prices even higher. Copper prices surged to $9,000 a tonne this week. The industrial bellwether metal is crucial in the global push for a greener economy, and right now, the market is facing a supply crunch. US’s post-pandemic recovery […]
An inter-ministerial Empowered Group 2 (EG2) has initiated several measures to ensure the supply of medical oxygen to various affected states during the Covid-19 pandemic, a Press Information Bureau (PIB) bulletin said on Thursday. Medical oxygen is a critical component in the treatment of Covid affected patients. The surplus stock available with steel plants is being […]
India’s steel demand fell by 13.7% in 2020, but is expected to rebound by 19.8% in 2021 driven by the growth-oriented government agenda even as private investment takes longer to recover, worldsteel said in its latest short range outlook released on Thursday, India suffered severely from last year’s extended period of severe lockdown, which brought most […]
Most steel-using sectors in China will show moderate growth and the country’s steel demand is expected to grow by 3.0% in 2021, but decelerate to 1.0% as the effect of the 2020 stimulus subsides, and the government focuses on more sustainable growth, worldsteel said in its latest short range outlook. The government’s reaction to the […]
Global steel demand will grow by 5.8% in 2021 to reach 1,874.0 million tonnes (Mt), after declining by 0.2% in 2020, worldsteel forecast in its latest short range outlook on Thursday, adding that in 2022 steel demand will see further growth of 2.7% to reach 1,924.6 Mt. The current forecast assumes that the ongoing second […]
The Indian government is determined to implement compulsory hallmarking of gold jewellery and artefacts from June 1, amid rumours that the scheme’s rollout could be delayed. Hallmarking for gold jewellery started in April 2000 as a voluntary scheme. Around 40 per cent of gold jewellery sold in the country is being hallmarked at present. “No […]
Strong domestic demand, followed by healthy exports have aided India’s steel industry’s production and sales growth in the fourth quarter of 2020-21 on a sequential basis, say analysts. Revenues of steel companies are expected to improve 20 per cent quarter-on-quarter and 45-50 per cent from a year ago on higher realization and rising demand, led […]
The recent fall in gold prices is unlikely to affect the asset quality of non-banking financial companies (NBFCs) lending against gold in any considerable manner, according to a report published by rating agency, CRISIL. “However, banks that were aggressively disbursing gold loans during the last fiscal may see some impact on their asset quality,” CRISIL […]
