Coronavirus outbreak and lockdown impact weighs on Indian steel industry

The outbreak of COVID-19 and a lockdown to prevent the spread are threatening to impact production of steel companies. Tata Steel is closing down its downstream standalone units in Maharashtra and Uttar Pradesh in line with guidance from respective states. The main sites at Jamshedpur, Kaliganagar and Angul, however, are operational, as they are process […]

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Gold heading towards Rs 45,000 per 10 grams level amid volatility in global markets

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Volatility in the global markets has once again brought gold back in focus, with the price of the yellow metal rising sharply worldwide. In India, it is approaching the Rs 45,000-level. This is a boon for investors holding gold exchange-traded funds and sovereign gold bonds (SGBs). At present, it is perhaps the only instrument to be providing […]

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Philippines to dethrone Indonesia as largest global nickel ore producer

Global nickel production will drop significantly over 2020 as major producer Indonesia’s nickel ore export ban comes into effect, Fitch analysts assert in a recent report. This drop will be slightly offset by the impact of rising production growth in the Philippines where some currently suspended mines will become operational again, while the country aims to plug […]

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February 2020 crude steel production showed a 2.8 per cent increase over February 2019: Worldsteel

World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 143.3 million tonnes in February 2020, a 2.8 per cent increase compared to February 2019. China’s crude steel production for February 2020 was 74.8 million tonnes, an increase of 5.0 per cent compared to February 2019*. India produced 9.6 million […]

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Domestic firms need to boost capacity to meet steel policy goals: Anil Kumar Chaudhary, Chairman, SAIL

Having implemented its Rs 72,000-cr expansion programme to a large extent, SAIL has in its crosshairs the Centre’s target of 300-MTPA capacity by 2030-31, chairman Anil Kumar Chaudhary said to the Financial Express. The Steel Authority of India, the country’s largest public sector steelmaker, has been in the steel business for more than 60 years. […]

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Gold prices shoot up by Rs 1,395 to Rs 41,705 per 10 grams; silver rises by Rs 2,889 to Rs 38,100 a kilo

Gold prices jumped Rs 1,395 to Rs 41,705 per 10 gram yesterday (Friday), following rally in the international prices of the precious metal. On Thursday, the precious metal had closed at Rs 40,310 per 10 gram. Meanwhile, silver prices advanced Rs 2,889 to Rs 38,100 per kg against the previous close of Rs 35,211 per kg. In the international […]

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Coal likely to face challenges in India as renewables look to scale up

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Coal remains central in the power mix of the developing world, with coal plants still being built across Asia in order to meet rising baseload electricity needs. However, a more challenging macroeconomic environment and slowing power demand growth are raising some questions around the growth of coal even in developing economies. Last year may have […]

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