London Metal Exchange launches India scrap futures

Global ferrous scrap prices, including in India, remain comparatively weak to iron ore, as the London Metal Exchange launches India scrap futures, allowing increased risk management with iron ore, scrap, coking coal and steel futures available through multiple exchanges. Scrap to iron ore ratios have remained weak, following sustained high iron ore demand in China […]

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EPC contractors seek fixed-price contracts with steel firms on rising input costs

Uncertainty in steel prices have prompted a few engineering procurement and construction (EPC) players in the highways sector to negotiate with the domestic steel majors for fixed-price annual contracts. Concerned about the rising cost of the raw material, some of them have requested the ministry of road transport and highways (MoRTH) to consider the inclusion […]

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During the first half of calender year 2021, commodities were the top performers

Commodities rallied 21 per cent in the first half of 2021, making them the top performing asset group ahead of U.S., European, emerging market and non-Japan Asian stocks. The broad-based index of energy, agriculture, industrial metals and precious metals rose the same amount as high-flying Bitcoin, which pulled back after hitting its all-time high of […]

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India approves Rs 6,322 crore PLI scheme to boost domestic specialty steel production

The government approved a Rs 6,322-crore production linked incentive (PLI) scheme to boost production of specialty steel in India. A decision in this regard was taken during the meeting of the Union Cabinet chaired by Prime Minister Narendra Modi, Information and Broadcasting Minister Anurag Thakur informed. He said that incentives worth Rs 6,322 crore will be […]

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Biden Administration expected to continue expansion of the bilateral ties with India on concerns about China: CRS

The Biden Administration is expected to continue expansion of the bilateral partnership with India and the driving force of the relationship is concern about China’s growing economic and military power in the region, according to a Congressional report. “Many speculate that the Administration would pay more attention to India’s domestic developments, including on human rights, […]

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BHP Billiton Australia ends the year with moderate gains

Australian miner, BHP Billiton announced its production results for the financial year 2020-21 ended 30 June. The company’s iron ore production during the year increased by two per cent to 254 million tonnes. This was achieved despite significant weather impacts, temporary labour shortages due to Covid-19 related border restrictions. BHP Billiton said it expects its […]

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