India’s crude steel output fell 3.4 per cent to 9.089 million tonnes during October this year, according to World Steel Association (worldsteel). The country had produced 9.408 million tonnes crude steel during the same month a year-ago, the global industry body said in its latest report. Global steel output stood at 151.494 million tonnes in […]
The European Union launched a complaint at the World Trade Organization (WTO) on Friday against Indonesia’s curbs on exporting nickel and other raw materials, which are designed to benefit its own smelting and stainless steel industries, as per a Reuters report. The European Commission, which coordinates trade policy in the 28-member EU, said the restrictions […]
For the first time, a jewellery association has decided to launch its own e-commerce website to connect bullion dealers and jewellers with each other, reports Business Standard. The industry has been favouring a spot exchange for bullion trading, but so far government has not taken any decision on the same. Indian Bullion & Jewellers Association […]
Afghanistan’s news agency Khaama Press reported that President Mohammad Ashraf Ghani cancelled the contracts held by the Turkish Afghan Mining Company TAMC and the Afghan Gold and Mineral Company AGMC, which allowed them to exploit the Badakhshan gold mine and the Balkhab copper mine in the northern Sar-e-Pul province. Both TAMC and AGMC are joint ventures (JVs) formed by US-based […]
Indian companies should purchase stake in Russian coal companies operating in its far east region in order to bring down the coal price and improve their port capacity to handle large ships, said a senior official of Russia-based Far East Investment and Export Agency (FEIEA). Currently, Indian steel and energy companies such as Steel Authority […]
In a bid to further protect the jewellery buyers from buying inferior quality ornaments, the Narendra Modi-led NDA government has decided to make BIS hallmarking mandatory for gold jewellery from January 15, 2021. According to Union Minister of Consumer Affairs Ram Vilas Paswan, the move would ensure that the consumers don’t get cheated into buying […]
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 151.5 million tonnes (Mt) in October 2019, a 2.8% decrease compared to October 2018. China’s crude steel production for October 2019 was 81.5 Mt, a decrease of 0.6% compared to October 2018. India produced 9.1 Mt of crude steel […]
Sales of non-ferrous metal companies contracted by 4.7 per cent in the second quarter (Q2) of this fiscal on account of overall weakness in metal prices, reports Business Standard. Among the non-ferrous metal companies, aluminium firms witnessed 21 per cent contraction in sales. A study by CARE Ratings noted that the average prices of aluminium in Q2 of FY20 […]
Chinese thermal coal prices are likely to come under pressure in 2020 from rising domestic output, while India makes further gains in its quest to surpass China as the world’s largest thermal coal importer. India’s increased demand for imports, which is due largely to domestic production and transportation challenges, will likely come at a time […]
India’s overall gross exports of gems and jewellery dipped by 2.05 per cent in October 2019, with growth in the gold jewellery segment making up to an extent for the continued large drop in polished exports, according to provisional data released by the Gem & Jewellery Export Promotion Council (GJEPC). Cut and polished diamond exports […]
