The World Gold Council launched its new consumer research report highlighting opportunities for gold for those working in both retail investment and jewellery markets. The significant piece of research, with an 18,000-strong sample, looks at a range of markets including China, India, North America, Germany and Russia, and highlights unique insights into attitudes towards and […]
Chinese steelmaker Jingye has agreed to buy the ailing British company, British Steel. Although the deal still faces regulatory hurdles, if concluded it would safeguard thousands of jobs in the U.K., mostly at British Steel’s Scunthorpe operations in Lincolnshire. And it would bring stability to a firm that has faced upheaval as the steel industry […]
The current round of coal block auction for the non-regulated sector is likely to fetch four states about Rs 43,000 crore over the life of the mines from the extractable reserves, analysts said, as reported in the Economic Times. This, however, assumes that the entire extractable reserve of the six blocks auctioned under the current […]
After a lacklustre performance in the second quarter, several top domestic steelmakers are cutting down on capital expenditure and conserving cash, for what can be described as a long winter before demand revives. Tata Steel, JSW Steel and Jindal Steel and Power (JSPL) have decided to slash their capital expenditure for the year, says a […]
China lifted its annual rare earth output quotas on Friday by 10 per cent to record-high levels for 2019, potentially easing fears the world’s dominant producer of the group of 17 prized minerals will restrict supply. Beijing in late May raised the prospect of weaponising its control of rare earths, used in everything from consumer […]
India’s new steel scrap policy has raised several market concerns ranging from a surge of mixed metal (unprocessed) scrap flowing into the country to challenges of setting up recycling centers, market participants said. On 6 November, 2019, India’s Ministry of Steel unveiled its steel scrap recycling policy after seeking industry feedback on a draft of […]
The government will now prioritise getting contracts for coking coal imports at competitive prices instead of trying to buy coal mines, as it was planning earlier. “The plan is to not acquire assets but only freeze orders in advance to get coal at competitive prices,” said Union Coal Minister Pralhad Joshi to Business Standard, on […]
Demand for gold in India for Q3 2019 fell by 32 per cent at 123.9 tonnes as compared to overall Q3 demand for 2018 (183.2 tonnes). India’s Q3 2019 gold demand value was Rs 41,297 crores, down by 18 per cent as compared to Q3 2018 (Rs 50,085 crores). Total Jewellery demand in India for […]
Global gold demand grew modestly to 1,107.9 tonnes in the third quarter of 2019, a rise of 3% on the same period last year, according to the World Gold Council’s latest Gold Demand Trends report. A surge in exchange-traded fund (ETF) inflows outweighed softer demand elsewhere in the market. Although central bank demand remained healthy, […]
India has decided to not join the 16-nation Regional Comprehensive Economic Partnership (RCEP) trade deal on grounds that its key concerns over the agreement have not been addressed. Prime Minister Narendra Modi said in Bangkok that the current form of the RCEP Agreement “does not fully reflect the basic spirit and the agreed guiding principles” […]
