More futures contracts in China will be allowed to seek the participation of international investors by China Securities Regulatory Commission (CSRC), as the country’s regulatory body has opened expressed its intention to promote dual circulation in the derivatives markets. “Enhancing the opening to the overseas investors in our capital market will enable us to remove […]
After India’s nationwide lockdown caused gold jewellery demand to drop to a record low during the second quarter, there was a modest recovery during the third quarter to 52.8 tons, according to the World Gold Council (WGC). Still the demand was 48% lower on year – notching the third lowest quarter for Indian jewellery demand. “Not […]
Global demand for gold during the third quarter of this year dropped by 19% on year to 892 metric tons, the lowest since that experienced during the third quarter of 2009 as consumers battled the effects of the pandemic, according to the World Gold Council. The year-to-date gold demand is down 10% on year at 2,972.1 […]
Prices of imported chrome concentrates in China’s spot market have strengthened recently, mainly in response to news that South Africa had approved a new tariff on chrome ore exports, Mysteel Global noted. But declining stocks of ore at ports also lent prices some support. As of October 28, the price of South Africa-origin 40-42% grade […]
China was the top foreign buyer of Indian steel between April and September 2020, government data showed, marking a rare rise in bilateral economic activity at a time of political tensions which have triggered some trade curbs. As per a Reuters report, China bought 1.9 million tonnes of finished steel from India, cornering 29 per cent of […]
With the Covid-19 lockdown being eased across the country, demand for gold loans are set to rise by 15%-18% this fiscal year especially from individuals and small businesses, according to a CRISIL study. Gold loans would be in demand because non-banking financial companies (NBFCs) and banks have tightened their underwriting norms for other loans, leading to […]
China’s imports of steel semis over January-August skyrocketed ten folds on year to a total of 11.4 million tonnes, according to data from China’s General Administration of Customs (GACC), and the surge contributed greatly to China’s re-emergence as a net steel importer during June-August for the first time in over a decade. For this year, […]
Indian metal and mining giant Vedanta Group’s recent failed attempt at delisting its shares from Indian stock exchanges will weaken the company’s liquidity and is a credit negative, according to Moody’s Investors Service On October 5, Vedanta commenced its reverse book building process for public shareholders to tender their shares. The company needed 134 crore shares for […]
While metal and agricultural commodities have recouped their losses from the COVID-19 pandemic and are expected to make modest gains in 2021, energy prices, despite some recovery, are expected to stabilize below pre-pandemic levels next year, the World Bank said. Oil prices fell dramatically in the early stages of COVID-19 and have only partially regained […]
India’s long steel sales volumes are likely to drop by 12-15% in the fiscal year ending March 31 following the covid-19 pandemic despite central government support for housing projects as well as road projects, according to CRISIL Ratings. However, secondary long-steel producers may sustain their credit profiles this fiscal despite facing up to 100 basis points decline […]
