Diamond exports from India fall sharply

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In the first eight months of FY20, exports of cut and polished diamonds fell 19.4 per cent. This kept the overall gems and jewellery exports lower by 5.8 per cent at $25.5 billion. Polished diamonds and coloured gemstones were big underperformers in this basket. But gold and silver jewellery as well as synthetic gemstones have shown positive trends. Industry […]

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Coal allocation by CIL to power sector under e-auction drops 23% in Apr-Nov 2019

State-owned Coal India Limited allocated 16.95 million tonnes (MT) of the dry fuel coal under special forward e-auction to the power sector in the April-November period of this fiscal, down 22.6 per cent over the year-ago period. Coal India (CIL) had allocated 21.91 million tonnes (MT) of coal in the April-November period of 2018-19, according […]

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Steel producers in India raise prices by Rs 1,000-1,500 a tonne as demand perks up

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Responding to cost pressure and greater demand, domestic steel producers have raised prices by Rs 1,000-1,500 a tonne across products for January, reports Business Standard. “Iron ore miners have increased prices by Rs 600 per tonne and so this increases the cost of production by Rs 1,000 a tonne. Hence, we have hiked prices from […]

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Commodities outlook appears positive for 2020 but challenges persist

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The year 2019 has been a rollercoaster ride for commodities market, however, we are ending on a promising note. Reuters/CRB commodities index has gained 10 per cent this year, the highest since 2010. Palladium tops the list of gainers and has risen more than 55 percent. Some of the other best performing commodities which have […]

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Asian countries face policy uncertainty, resource nationalism in mining: Fitch report

Rising geopolitical tensions and pressures to the global economy will continue to evoke volatility in commodity markets, heightening risks to metal demand and prices, Fitch Solutions’ newest report on key Asia mining themes finds. The Asian mining landscape will continue to benefit from the availability of high-grade resources and low labour costs, although key countries will […]

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Steel companies in India stocking up on iron ore on fear of supply disruptions

Steel manufacturers and other end user industries in India have accelerated iron ore buying as they fear disruptions in supplies after the end of lease tenure of merchant mines by March 31, 2020. Almost all leading integrated steel makers and secondary producers have intensified iron ore sourcing to avert raw material crunch and ensure uninterrupted […]

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Jewellery demand expected to fall by 6-8% over high gold prices: ICRA

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Jewellery demand is expected to decline by 6-8 per cent in terms of volume following high gold prices and weak consumer demand in 2019-20, according to an ICRA report. “Overall, we expect the jewellery demand to be subdued in FY20 with expected volume de-growth of 6-8 per cent on the back of elevated gold prices and weak consumer demand, rating agency ICRA […]

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India’s exports may touch $ 330-340 billion this fiscal: FIEO

India’s exports are expected to touch $ 330-340 billion during the ongoing fiscal on account of uncertain global situation and rising protectionism, exporters body FIEO said on Monday. During April-November, 2019-20, exports dipped by about 2 per cent to $ 212 billion. Federation of Indian Export Organisations (FIEO) President Sharad Kumar Saraf said the global […]

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Gold ends 2019 on shiny note; may hit Rs 45,000 per 10 gram in 2020

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Gold is set to remain more expensive in the New Year as continuing geopolitical tremors, economic woes and rupee volatility are expected to push the yellow metal even to Rs 45,000 for 10 gram, says a PTI report. Thanks to various government policies and soaring stock market, gold witnessed periodic as well as steep price fluctuations in […]

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