Tata Steel said that the crude steel production of its India business increased by 4.3 per cent to 4.80 million tonnes in Q3 FY22 from 4.60 million tonnes in Q3 FY21. Delivery volumes of Tata Steel India fell by 5.2 per cent YoY to 4.41 million tonnes in the third quarter. During Q3 FY22, crude […]
Indian steel makers seem to be resigned to price swings in iron ore. Indian iron ore producers take the pricing cue from the global market. Much to the surprise of miners and traders, iron ore prices in swung from an all-time high of $235.55 a tonne on May 12 to slide to 16-month low of […]
The global cobalt supply chain is set to remain highly geographically concentrated in the coming years — in the DRC (Democratic Republic of Congo) for mine production and in China for refining — which will likely pose procurement challenges for battery manufacturers, market analyst Fitch Solutions finds in its latest industry report. Yet the global cobalt industry […]
Sajjan Jindal-led JSW Steel said it would be investing Rs 15,000 crore to expand capacity at its integrated plant in Vijayanagar, Karnataka, for commissioning in 2023-24 (FY24). Of the 6-million tonne expansion planned, the new part of the project comprises 5 million tonnes, while the rest 1 million tonne will be through optimisation at the […]
India splurged a record $55.7 billion on gold imports in 2021, buying more than double the previous year’s tonnage as a price drop favored retail buyers and pent-up demand emerged for weddings that were delayed when the pandemic first hit. The 2021 gold import bill easily doubled the $22 billion spent in 2020 and surpassed […]
The country’s exports are expected to register healthy growth rate in the financial year 2022-23 and might touch $ 530 billion as exporters are “flushed” with orders, the Federation of Indian Export Organisations (FIEO) said. It added that additional exports will come from some of the PLI (production-linked incentive) sectors in the next fiscal. “Since […]
The world economy is set to surpass $100 trillion for the first time in 2022, two years earlier than previously forecast, according to the Centre for Economics and Business Research. Global gross domestic product will be lifted by the continued recovery from the pandemic, although if inflation persists it may be hard for policy makers […]
India and China achieved a major milestone this year when their bilateral trade crossed the landmark figure of $ 100 billion but it did not generate any fanfare in both capitals as the two Asian giants are going through a “particularly bad patch” in their relations due to a set of actions by Beijing in […]
The rollout of mandatory hallmarking of gold jewellery in 256 districts has been smooth so far and the process of expanding it to all districts of the country is now underway, according to the Consumer Affairs Ministry. Hallmarking, a quality certification, has been made mandatory with effect from June 23, 2021 for 14, 18, and […]
The government is working on providing enabling environment and market access to the gems and jewellery sector, Union minister Piyush Goyal said. The commerce and industry minister was speaking at the foundation stone laying ceremony for a mega common facility centre at Santacruz Electronic Export Processing Zone Special Economic Zone (SEEPZ SEZ). “We need to […]
